Pound Sterling Price News and Forecast: GBP/USD jumping between support and resistance levels
|GBP/USD eyes April’s bar, 2021 trendline in focus too [Video]
GBPUSD managed to close marginally above the December-January ceiling of 1.2445 on Monday after a three-day intense battle, shifting the spotlight to April’s bar of 1.2520.
Some caution is necessary as the RSI and the MACD have yet to correct their negative trajectory. Yet, with the price having recently secured another strong foothold around its 20-day simple moving average (SMA) and at the lower boundary of the seven-week-old bullish channel, a continuation higher seems to be very likely. Read more...
GBP/USD: Jumping between support and resistance levels
Looking at GBPUSD’s chart, we can see that the Forex pair had picked at around 1.2540 and then dropped to around $1.2355 whereas currently it has corrected to the rate of $1.2480.
Today, we expect the FX pair to be traded in the range between the support and resistance level from $1.2425 to $1.2530 until today’s announcement on Building permits at 16:30 (GMT+3) and Consumer Confidence and New Home Sales at 17:00 (GMT+3). Read more...
GBP/USD Forecast: Pound Sterling could extend correction amid risk aversion
GBP/USD has turned south and declined toward 1.2450 after having climbed above 1.2500 for the first time in nearly two weeks during the Asian trading hours on Tuesday. The pair faces key support area at 1.2450 and additional losses could be witnessed if that level fails. In the absence of high-impact data releases, the pair could find it difficult to regather bullish momentum unless the risk mood starts to improve. Read more...
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