GBPUSD regains upside momentum, after a soft start to the week, as the Cable traders await the UK PMIs for January. It’s worth noting that the bullish MACD signals favor the latest upside but the RSI is nearly overbought, which in turn highlights the six-week-old horizontal resistance area surrounding 1.2450. Should the firmer British activity data allow the quote...
GBPUSD bulls are struggling to keep the reins as traders await crucial British economics scheduled during the week, starting with the UK jobs report. That being said, a retreat in the RSI and sluggish MACD joined the recent softness in prices to signal the Cable pair’s pullback towards the 1.2000 psychological magnet, a break of which could quickly drag the quote...
GBPUSD retreats from a one-month-old broad resistance area surrounding 1.2210-40 as the Cable traders brace for the UK data dump on Friday. The quote’s sustained trading beyond the convergence of the 50-SMA and 100-SMA, around 1.2070-65 at the latest, joins upbeat oscillators to keep the pair buyers hopeful of overcoming the key horizontal resistance zone....
GBPUSD braces for the first weekly gain in four as 200-EMA and a two-week-old support line defends Cable buyers. However, multiple failures to cross a one-month-long horizontal hurdle keep the sellers hopeful of breaking the 1.2000 key support. Following that, not only the ball could drop on the bear’s court for the fourth consecutive weekly fall but the pair...
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 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 dropped consecutively during the last four days to approach the yearly low marked in July, before recently bouncing off towards 1.1800. The bears, however, appear more dreadful this time as the RSI has comparatively more space to hit the oversold territory than the previous south-run to refresh the multi-day low of 1.1760. That said, the 1.1760 level may...
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...
Immediate Target is around 225 The stock has given a trendline breakout over a short term period. However, if the said target is achieved, 225, the next target could be around 310 - 330. in a period of two months. IF the target of 225 is crossed ONLY.
The gap is being filled after a very long time..looks like will spike up with huge volumes.
A bullish engulfing on a daily chart and a triple bottom is formed.