GBPUSD posted the biggest monthly gains since mid-2020 in November. However, the latest bullish trajectory appears doubtful as the pair stays beneath a one-month-old previous support line. That said, the 50-SMA restricts the pair’s immediate downside near 1.1985. Following that, the 100-SMA level surrounding 1.1860 could act as the last defense of the pair buyers...
GBPUSD remains sidelined since the last Wednesday and retreats from its intraday high so far on Monday. Even so, a 13-day-old ascending trend channel defends the pair buyers. More immediately, a convergence of the 50-EMA and an upward-sloping trend line from early October, around 1.1760, restricts the quote’s nearby downside. Following that, the aforementioned...
GBPUSD bulls approach the key resistance line, stretched from mid-June, ahead of the UK’s employment numbers. The cable pair’s upside momentum takes clues from its successful trading beyond the 100-DMA, as well as the bullish MACD signals. However, nearly overbought RSI conditions could restrict further advances near an aforementioned resistance line, around...
GBPUSD grinds lower so far during November, after posting the biggest monthly gains since July 2020. The intraday moves are slightly positive even if the bulls seem to run out of steam ahead of the Bank of England’s (BOE) monetary policy announcements on Thursday. That said, the buyers are safe unless the quote trades beyond the 1.1360 support confluence including...
The US dollar’s decline versus most currencies on Friday allowed GBPUSD to bounce off a three-week-old support line. The recovery, however, needs validation from a monthly resistance line, around 1.1400 by the press time. Following that, the monthly high around 1.1490 may act as an intermediate halt before directing bulls towards September’s top surrounding...
GBPUSD seesaws around a monthly resistance line, after successfully crossing the 200-SMA, as buyers await the UK inflation data. In addition to the stated trend line hurdle surrounding 1.1330, the 78.6% Fibonacci retracement level of September 13-26 downside, near 1.1435 and the monthly peak of 1.1495 could challenge the quote’s further upside. It’s worth noting...
GBPUSD holds onto the previous week’s downside break of the 50-SMA and a two-week-old support line, now resistance around 1.1160. Although the nearly oversold RSI suggests limited room towards the south, the bearish MACD signals keep the bears hopeful. That said, a horizontal area comprising the lows marked during late September, around 1.0930-20, lures intraday...
GBPUSD remains inside an eight-day-old bullish channel, as well as the 100-SMA, suggesting further upside. However, the 200-SMA and a downward sloping resistance line from August 26, respectively around 1.1430 and 1.1480, appear tough nuts to crack for the pair buyers. Also challenging the north-run is the RSI conditions which gradually approach the overbought...
GBPUSD holds onto the rebound from an all-time low, marked the previous day, amid oversold RSI conditions. The recovery also crossed the previous record bottom printed in 1985. However, the 1.1000 round figure and a downside sloping support-turned-resistance line from May, around 1.1280 by the press time, restricts the Cable pair’s immediate rebound. Also acting...
GBPUSD renews 37-year low, breaking four-month-old support line and 61.8% Fibonacci Expansion (FE) of the GBPUSD pair’s moves between August 17 and September 13, close to 1.1290, as traders await the Bank of England’s (BOE) monetary policy updates. Though the cable pair broke the nearby key support, now resistance around 1.1290, oversold RSI conditions and a...
GBPUSD seesaws below 50-SMA after breaking the weekly support line, not to forget to mention the reversal from a three-week-old horizontal hurdle. The pullback also takes clues from the downside RSI and MACD to suggest further downside towards the yearly low marked the last week around 1.1400. It should, however, be noted that a 61.8% Fibonacci Expansion (FE) of...
GBPUSD crosses the monthly bearish channel, also the 50-SMA hurdle, after briefly declining to the lowest levels since 1985. The corrective bounce takes support from the bullish RSI divergence where the lower low on the prices contrasts with the higher low of the RSI (14), which in turn suggests brighter chances of the pair’s recovery. As a result, the buyers are...
GBPUSD extended pullback from 100-SMA to refresh monthly low, before the recent corrective pullback near 1.1900. In doing so, the Cable pair also broke below the support area of a fortnight-old descending triangle. The downside break also takes clues from the bearish MACD signals, suggesting more to run towards the south. However, the late July swing low around...
GBPUSD retreats from the 11-week-old descending trend line as the traders await the first readings of the Q2 2022 UK GDP. In addition to the trend line hurdle, the 38.2% Fibonacci retracement of the March-July downside, near 1.2345, guards the pair’s immediate upside. Following that, the 100-DMA hurdle surrounding 1.2435 will be in focus. In a case where the quote...
GBPUSD extends early-week pullback from a 2.5-month-old resistance line around a lower line of the bullish channel connecting multiple levels marked since mid-July. Considering the recently downbeat RSI and MACD conditions, as well as the Cable pair’s U-turn from the key resistance line, the sellers are likely to defy an upward sloping trend channel by keeping...
GBPUSD refreshed a three-week high on Tuesday while extending the breakout of 100-SMA. However, a convergence of the 200-SMA and a downward sloping trend line from June 16, around 1.2110 appears a tough nut to crack for the Cable pair buyers. Given the RSI’s nearness to the overbought territory, the upside momentum is less likely to overcome the key hurdle....
GBPUSD's rebound dribbles around a one-week high while extending Friday’s upside break of a descending resistance line from June 27, now support. The Cable pair’s recovery also takes clues from the firmer RSI and the bullish MACD signals to keep buyers hopeful. However, sustained trading beyond convergence of the 100-SMA and a downward sloping trend line from June...
Be it recession fears or the UK’s political crisis, GBPUSD has to bear it all as it dropped to the lowest level since March 2020. However, the cable pair appears to have a limited downside room before hitting the key supports. That said, a nearly oversold RSI and a falling wedge bullish chart pattern near the multi-month low also tease buyers to take the risk. It...