Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Market Analysis By FXOpen
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Resolve, post: 196834, member: 29339"] [B]GBP/USD and EUR/GBP: British Pound Could Continue To Struggle[/B] [IMG]https://i.postimg.cc/VLR3hQ5Q/GBPUSD-Cable.jpg[/IMG] [B][I]GBP/USD failed to clear the key 1.4000 resistance zone and corrected lower. EUR/GBP is rising and it might gain pace if it clears the 0.8600 barrier.[/I] Important Takeaways for GBP/USD and EUR/GBP[/B] [LIST] [*] [*]The British Pound failed to gain pace above the main 1.4000 resistance zone. [*]There is a major bearish trend line forming with resistance near 1.3920 on the hourly chart of GBP/USD. [*]EUR/GBP started a fresh increase after it found a strong support near the 0.8530 zone. [*]There is a short-term contracting triangle forming with resistance near 0.8595 on the hourly chart. [/LIST] [B]GBP/USD Technical Analysis[/B] The British Pound failed to reclaim the 1.4000 handle and it started a fresh decline against the US Dollar. The GBP/USD pair broke the 1.3900 support zone and the 50 hourly simple moving average. The pair even spiked below 1.3800 before it found support near 1.3785. A low was formed near 1.3786 and the pair recently started an upside correction. There was a break above the 1.3850 and 1.3900 resistance levels. [IMG]https://i.postimg.cc/HkvFpwQ6/gbpusd-chart-3.png[/IMG] The pair even moved above 1.3950, but it failed to clear the 1.4000 resistance zone. A high was formed near 1.4000 and the pair is now moving lower. It broke the 50% Fib retracement level of the upward move from the 1.3786 swing low to 1.4000 high. It is now trading below 1.3900 and the 50 hourly simple moving average. There is also a major bearish trend line forming with resistance near 1.3920 on the hourly chart of GBP/USD. An immediate support on the downside is near the 1.3865 level. It is near the 61.8% Fib retracement level of the upward move from the 1.3786 swing low to 1.4000 high. A downside break below the 1.3865 level might call for a fresh decline towards the 1.3800 level. On the upside, an immediate resistance is near the 1.3920 level. The next major resistance is near the 1.4000 level. A successful close above 1.3920 and a follow up move above 1.4000 could open the doors for a move towards the 1.4120 resistance. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…