GBPUSD renews a 5.5-month low while extending the previous week’s downside break of the 200-day SMA, as well as drilling the 61.8% Fibonacci retracement of March-July upside. In doing so, the Cable pair ignores the oversold RSI (14) line while taking clues from the bearish MACD signals, which in turn suggests limited downside room for the Pound Sterling. As a...
GBPUSD consolidates losses made in the last three consecutive weeks ahead of the UK’s employment report. Adding strength to the recovery momentum is the RSI (14) line’s rebound from the oversold territory, as well as a six-week-old falling wedge bullish chart formation, which in turn suggests an immediate run-up to cross the 1.2600 round figure. However, the...
GBPUSD managed to confuse pair sellers last week by defending a one-month-long falling wedge bullish chart pattern despite declining in the later days. Also challenging the Cable pair’s downside is a weeklong rising support line, as well as a nearly oversold RSI (14) line. It’s worth noting, however, that the MACD still flashes the bearish signals and hence the...
GBPUSD remains on the back foot while justifying a downside break of a 5.5-month-old rising support line and the 100-SMA. Also keeping the Cable bears hopeful are the bearish MACD signals. However, the nearly oversold RSI conditions suggest limited room towards the south, which in turn highlights the 200-SMA level of around 1.2400 as the key support. It’s worth...
GBPUSD gained buyer’s attention after snapping a four-week downtrend the last week. Adding strength to the upside bias is the Cable pair’s confirmation of the descending triangle bullish chart pattern. However, a clear upside break of the stated triangle’s upper line, close to 1.2740 by the press time, as well as successful trading beyond the 200-SMA hurdle of...
GBPUSD remains on the back foot as the Cable bears attack the bottom line of a six-week-old bullish triangle after staying successfully beneath an ascending support line from early March, now resistance around 1.2830. That said, the bearish MACD signals keep the Cable sellers hopeful. However, the below 50.0 conditions of the RSI (14) line join a convergence of...
A bullish triangle joins Thursday’s rebound to lure GBPUSD buyers as markets await the first estimates of the UK Q2 GDP. However, fears of recession and the 1.2815-25 resistance confluence restrict Cable prices. That said, a convergence of the 100-SMA and top line of a six-week-old descending triangle together constitute the 1.2800-05 key hurdle for the buyers....
A daily closing beneath the 1.2720 support confluence, now resistance, teases the GBPUSD bears as Bank of England (BoE) policymakers brace for another interest rate hike. Apart from a sustained break of the 50-DMA and five-month-old rising trend line, bearish MACD signals and the descending RSI line, not oversold, also keeps the Cable sellers hopeful of revisiting...
GBPUSD marked the first weekly loss in three while slipping beneath the 100-SMA and an upward-sloping support trend line stretched from late June. Adding strength to the downside were bearish MACD signals and the RSI line’s reversal from the overbought territory. However, the MACD teases a bull cross as the RSI hovers around the oversold territory, which in turn...
GBPUSD extends pullback from a 15-month high, marked the last week, as it awaits the UK’s headline inflation data for June, per the Consumer Price Index (CPI) gauge. The pair previously cheered the US Dollar weakness to refresh the multi-month high before the fears of British recession weighed on the prices. The upside momentum also took clues from a clear break...
GBPUSD printed the first weekly gain in three after the US Dollar’s fall post-NFP. Following that, the Cable pair crossed the 1.2850 resistance, as well as defy the bearish triangle to rise to the highest level since April 2022. It’s worth noting that the bearish RSI divergence, where the price made a higher high but the indicator marked a lower high, suggests a...
GBPUSD defends the last Thursday’s rebound from the 200-EMA to brace for the first weekly gain in three. The Cable pair’s recovery also takes clues from the upbeat RSI (14) line and the bullish MACD signals, which in turn suggest room for further upside. The same highlights a three-week-old horizontal resistance zone around 1.2760-70 as the short-term key hurdle....
Despite posting the first weekly loss in four, the GBPUSD pair stays beyond the key supports. Not only that but the RSI (14) also retreats from overbought conditions and hence the fears of a pullback are off the table. That said, the MACD signals are bullish, which in turn backs the buyers to renew the upside momentum. That said, the latest peak, also the 61.8%...
GBPUSD dropped in the last three consecutive days and is on the way to posting the first weekly loss in four as the Cable traders prepare for the Bank of England (BoE) Interest Rate Decision, despite the latest rebound. Even so, the Pound Sterling remains beyond the 50-SMA and a three-week-old rising support line, respectively near 1.2690 and 1.2655 at the latest....
GBPUSD extends the week-start retreat from a one-month high, after posting a two-week upside, as it braces for the UK employment numbers on Tuesday. The In doing so, the Cable pair holds onto the previous day’s pullback from a six-week-long horizontal resistance as RSI retreats from nearly overbought territory. Even so, the MACD indicator flashes bullish signals...
GBPUSD portrays a bullish megaphone trend widening formation as the Cable traders await the UK employment report on Tuesday. The quote’s latest rebound from the stated pattern’s bottom line allowed it to cross the weekly resistance line. However, a clear upside break of the 100-SMA and 23.6% Fibonacci retracement of the March-May upside, near 1.2525, becomes...
After taking out the 1.2580 key resistance, GBPUSD bulls jostle with the 78.6% Fibonacci retracement of its March-September 2022 downturn, around 1.2685. That said, the RSI (14) grinds near the overbought territory and the MACD signals are sluggish too, which in turn suggests that the buyers are running out of steam on the Bank of England (BoE) inspired “Super...
GBPUSD pauses a two-week uptrend inside a rising wedge bearish chart formation. The descending RSI (14) line, however, suggests bottom-picking and hence highlights the need for a strong downside move that can break the wedge’s lower line, as well as the 200-SMA level, respectively near 1.2430 and 1.2385. Following that, the theoretical target of rising wedge...