Slobodan Drvenica
Windsor Brokers
GBP/USD
Bears hold grip and keep the price within daily cloud for the third straight day, with cloud top acting as solid resistance and limits upticks.
Renewed probe through 1.3049 (50% retracement of 1.2664/1.3434) looks for eventual firm break here to signal bearish continuation for attack at psychological support at 1.30 (also Sep 11 higher low), which guards more significant levels at 1.2958 (Fibo 61.8%) and 1.2940 (daily cloud base).
Daily studies are weakening as negative momentum continues to strengthen and south heading daily Tenkan-sen diverges from Kijun-sen after formation of bear cross, however bears may face headwinds as stochastic emerged from oversold territory.
Near term bias is expected to remain with bears while the action stays capped by cloud top (1.3071).
Res: 1.3049; 1.3071; 1.3113; 1.3140.
Sup: 1.3000; 1.2958; 1.2945; 1.2870.
Interested in GBP/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
AUD/USD holds the bounce toward 0.6500 amid mixed markets
AUD/USD remains on the front foot, looking to 0.6500 in Asian session on Monday. A broadly subdued US Dollar supports the Aussie but the further upside appears elusive as sentiment remains tepid ahead of Fedspeak and Tuesday's RBA Minutes release.
USD/JPY regains 154.00 and beyond amid BoJ's Ueda-led volatility
USD/JPY has recaptured 154.00 in Asian trading on Monday after BoJ Governor Kazuo Ueda's comments injected volatility around the Japanese Yen. Ueda offered no clues on a likely December interest rate hike, weigihing heavily on the Yen while triggering a big USD/JPY jump.
Gold extends recovery to test $2,600 amid renewed Russia-Ukraine tensions
Gold price (XAU/USD) extends its rebound to test $2,600 early Monday, snapping a six-day losing streak. The latest uptick in Gold price could be attributed to rsurfacing Russia-Ukraine geopolitical tensions after US authorizes Ukraine to use long-range US weapons to strike inside Russia.
Dollar rally 2024: Epic bull run or dangerous bubble?
Dear, The US dollar is surging—how high can it go? Is this unstoppable growth or a bubble about to burst? Discover the 5 key factors fueling this rally Watch, learn, and get ready for what’s next! .
Week ahead: Preliminary November PMIs to catch the market’s attention
With the dust from the US elections slowly settling down, the week is about to reach its end and we have a look at what next week’s calendar has in store for the markets. On the monetary front, a number of policymakers from various central banks are scheduled to speak.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.