FX.co ★ GBP/USD

T E C H N I C A L _ A N A L Y S I S G B P / U S D This morning I will try to analyze the GBP/USD market. It is exciting for me to analyze things for myself and to apply what I've learned in trading. So without lingering further, let's start the analysis of GBP/USD. GBP/USD is trading at 1.2565 at the time of writing. The movement of the GBP/USD pair is experiencing a significant weakness, and if you look at this timeframe, it looks like this strength will continue which indicates that the sellers have more potential to push the price down. The Relative Strength Index (RSI) indicator value is 44.9035, so it is more likely that the GBP/USD will cross these moving average lines in the bearish direction. At the same time, the price is below the midline of the moving average convergence divergence (MACD) and is also supporting the bears. The Moving averages also show a bearish signal. As seen on the chart, GBP/USD hovers below the 50, and 20-day exponential moving averages. A bearish trend is evident in this market.

On this time frame chart, there are three necessary areas to consider. If the price continues on an uptrend, these three areas will be necessary places to verify that the price can strengthen again or weaken again. There is immediate resistance at 1.2798, followed by 1.2974 for upward momentum. After that, GBP/USD will move further toward the 1.3112 level of resistance which is the 3rd level of resistance. On this time frame chart, there are three necessary areas to consider. If the price continues on a downtrend there is immediate support at 1.2476, followed by 1.2166 for downward momentum. After that, GBP/USD will decline further toward the 1.1719 level of support which is the 3rd level of support. So good luck to all in your business! The indicators used in the chart: MACD indicator: RSI indicator period 14: 50-day exponential moving average color Orange: 20-day exponential moving average color Magenta: