Gbpusd analysis

[Glastonburyk]

GBPUSD

Let’s keep things simple!

This pair has downside momentum on the 4hour chart and is trading below the 50 and 200 Simple Moving Averages. However, it is still holding above the 100 SMA. All in all, bears are in the lead.

Support awaits at 1.205, which provided support on Friday. The next level to watch is 1.2140, which was a cushion in late March. The psychologically significant level of 1.20 and 1.1980 are next.

Price currently resides at the whole level of 1.23500 and would be a good place to decide the next move. Rejection here would be a great short opportunity and a break to the upside would be a solid buy. Enjoy and happy trading!

 

[Zack King]

good analysis bro, im charting right now, useful stuff ^ thanks

 

[sebking1986]

Some great insignt here mate thanks. Will keep an eye on this fair closely.

 

[K_Robdog]

I’ve got my eye on this one! Will enter once it shows a clear direction. Thanks for the analysis!

 

[Hong Kong Phooey]

Tend to avoid GBP though USD weakness tempting. Might see virus curve drop in UK whilst U.S. cases ramp up towards end of week. Tech analysis on my charts also seem to support the move

 

[momo3HC]

In the aspect of US hard times lately and in short future i think we can expect more gains for this pair.