Spike Recorded on GBPUSD While It Pushed past Key Technical Resistance Level at 1.2582
Login

Spike Recorded on GBPUSD While It Pushed past Key Technical Resistance Level at 1.2582

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

GBPUSD Price Analysis – October 13

The sterling had spiked up against the greenback on Friday while pushing past the key level at 1.2582 and surging as high as the level at 1.2706. While trending higher for the 2nd day in a row, GBPUSD ended the week higher and from another angle, the FX pair may extend gains against the US Dollar within the next trading session.

Key Levels

Resistance Levels: 1.3185, 1.2859, 1.2782

Support Levels: 1.2501, 1.2412, 1.2280

GBPUSD Long term Trend: Bullish

The GBPUSD exchange rate surged to the horizontal zone on the at 1.2706 before retracing downwards during the Friday trading session. The rate had surged past key technical resistance level at 1.2582.

Presently, the bulls were in full control in the last session and may extend further, it may move the market higher throughout the next session, as it is the FX pair confirmed its breakout through the prior session high.

GBPUSD Short term Trend: Bullish

On the 4-hour time frame of the pair, buyers have managed to take out the key technical resistance level at 1.2582, however, the British Pound may consolidate against the US Dollar at the psychological at 1.2501 in the near term.

Although the prior outlook shows a strong bearish trend to the level at 1.1958, while still in a long-term downtrend, the short and medium-term trends presently have turned bullish already.

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News