GBPUSD May Register Weakness at the Beginning of the Week by Pointing to the Most Recent Lows

GBPUSD Price Analysis – November 10

The pound sterling is currently registering a continuing weakness against the USD as observed in the previous session that ends the last week of trading down on Friday at the level at 1.2775 after losing 39 pips. The sellers took control of the FX pair, as it confirmed their breakthrough in the previous low session after trading up to 25 pips below the intraday.

Key levels

Resistance levels: 1.3301, 1.3185, 1.3012

Support levels: 1.2582, 1.2195, 1.1958

GBPUSD Long-term trend: Bullish

In the long-term picture, a medium-term base was structured at the 1.1958 level, before the base at the lowest low. Meanwhile, for this scenario, the advance from the level at 1.1958 is seen as a strong consolidation from the lowest low.

However, an additional advance towards the resistance level of 1.3185 can be recorded. However, this may remain the probable scenario while the level at 1.2582 resistance stays as intact support. Therefore, the firm break of the level at 1.2582 can again shift attention to the level at 1.1958 low.

GBPUSD Short-term trend: Bearish

GBPUSD had collapsed slightly last week in the 4-hour timeframe, as consolidation from the 1.3012 level extended down. The initial bias remains neutral first and the possibility of a sustained plunge is likely.

Although the downward move may be restricted above the level at 1.2582 resistance turned support to resume its advance. At the top, a break of the level at 1.3012 may resume the advance of the level at 1.1958 to 1.2582 at 1.2195 beyond the level at 1.3012.

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Latest Releases May Push Recovery past the Level at 1.30 Handle: What Next for GBPUSD?

GBPUSD Price Analysis – November 3

Due to recent news release, the GBPUSD pair may recover further past the horizontal line on the level at 1.30 handle. The pair exited the prior week higher at the level 1.2940. Trending about 28 pips higher after the open, the Cable was unable to hold its gains as the sellers took control ending the day below its opening price. As the new session begins, the 1.3000 level is critical and may limit a further advance.

Key Levels

Resistance Levels: 1.3301, 1.3185, 1.3012

Support Levels: 1.2582, 1.2195, 1.1958

GBPUSD Long term Trend: Bullish

In the longer picture, the present scenario affirms the case of medium-term bottoming on the level at 1.1958. However, at this stage, the rise from the level at 1.1958 is seen as consolidating from the previous fall.

And a further advance may be seen back towards 1.3301 resistance. As of now, this scenario may stay as the likely trend in as much as the level at 1.2582 resistance turned support is intact. Although the GBPUSD displays a short-term downtrend, its likely a correction, as both the medium and long-term trends are still bullish.

GBPUSD Short term Trend: Ranging

On the 4-hour time frame, the bias stays neutral before the next open as the GBPUSD is staying in consolidation from the level at 1.3012 from the last session while the outlook is unchanged.

Meanwhile, in the event of another retracement, the downside may be contained above the level at 1.2582 resistance turned support to effect another advance northwards. On the upside, the break of the level at 1.3012 may further its advance from the level at 1.2195.

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Limited Bearish Momentum Pressures GBPUSD After the Upward Rally to the Level at 1.3012

GBPUSD Price Analysis – October 27

Earlier in the last trading week, the GBPUSD had rallied up to the horizontal zone on the level at 1.3012 but had retraced since then exiting the prior trading week -1.19% lower on the level at 1.2829. However, as the market opens today we’ll see a scenario that is calming as the FX pair awaits the next moves derived from ongoing Brexit fundamentals.

 

Key Levels

Resistance Levels: 1.3301, 1.3185, 1.3012

Support Levels: 1.2749, 1.2582, 1.2204

GBPUSD Long term Trend: Bullish

As seen on the daily on Friday, the GBPUSD had found buyers in the near term around the level at 1.2804 pushing the pair few pips higher but likewise, the GBPUSD had closed within prior day’s range after the lackluster session.

As we enter a new session, its initial bias stands as neutral this week for likely consolidations at first. Meanwhile, the downside of the retracement may then be contained above the level at 1.2582 resistance turned support which may then bring another bullish resumption.

GBPUSD Short term Trend: Bullish

On the 4-hour time frame, the pattern displays a limited bearish momentum with pressures from the moving average 5, presently trending in between the level at 1.2782/1.2859 area.

Therefore, it is likely that the pair may decline in the short term. A possible downside target is a psychological level at 1.2749 minor support. The overall outlook is showing that the FX pair remains bullish, displaying an intact uptrend in the short and long-term.

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Despite Running to the Highest Close in Six Months, GBPUSD May Fail to Reverse

GBPUSD Price Analysis – October 20

The GBPUSD had closed on Friday above its opening price after recovering from early selling pressure and trending higher for the 4th day consecutively in a row. After failing to reverse from its highs, the FX pair is unstable and due to weekend UK parliament vote on Brexit, with this scenario, the pair is likely to gap while it reopens on Monday morning in Asia (Sunday evening in the US).

Key Levels

Resistance Levels: 1.3301, 1.3185, 1.2988

Support Levels: 1.2582, 1.2204, 1.1958

GBPUSD Long term Trend: Bullish

On the daily picture, the bulls took charge in the previous session and exited the day above its opening price, however, the pair failed to move past the prior’s day’s trading range and the price likewise failed to reverse below the previous day’s range.

The GBPUSD had rallied upwards to as high as the level at 1.2988 last week, before forming a temporary top there. In the case of a reverse, the fall may be contained by the level at 1.2582 resistance turned support to bring rise resumption.

GBPUSD Short term Trend: Bullish

An impermanent top is structured on the level at 1.2988 and intraday bias in GBPUSD stays on the upside. A few consolidations may be seen. Be that as it may, any pullback ought to be contained above the level at 1.2582 support to bring rise resumption.

Meanwhile, on the upside, a break of the level at 1.2988 will stretch out the recovery from the level at 1.1958 to 1.2582 from 1.2204 at 1.3185 next. Without bias analysis, the outlook is bullish and displaying an intact uptrend in the short and long-term.

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

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