FX.co ★ GBP/USD

GBPUSD Long-Term Analysis: Sterling's pound price versus the US dollar is now at 1.32358. The penultimate resistance level consolidation level has passed 1.34588, which is the monthly high of the double top. This will be the Buyer's Great Revolution. Oversetting may provide opportunities for hunting dogs in the 1.36658 range. The present downlink fix is merely temporary. The lower-down channel might reach 1.32058, then recover to the 38.8% Fibonacci retracement above 1.35058, finally breaking the weekly and daily pivot points at 1.35718. As we can see, the fast rebound in the US index exchange rate will drive the price higher, causing the Bollinger belt and shock index cloud midline to reach 1.33158. In the near term, the bias has shifted bullish, and further advances might render the overall outlook favorable. Technically, the MACD column chart is continuing to accumulate kinetic energy above its red midline, indicating the north area, while the RSI neutral crossover continues above 50 but seems to be losing power. The trade is now below the short-term support level of 1.31378. A break below the 200-day moving average may persist, with the moving average slightly above 1.30158. Any move below the diagonal line might support the preceding boiling trend and entice sellers to continue holding prices, causing prices to fluctuate dramatically inside the 1.28818 area. Medium-term possibilities will continue to focus on the uptrend's basis in the next four hours. Candlestick formation will react to long-term buyers, as successive rejections of 1.31158 will keep the price around 1.37058. A firm break of the rising neckline will remove the seller, and resistance might be found around the middle and upper bands around 1.38158. Additionally, if the seller refuses to give up on the upside bottom, leading the price to drop severely below 1.30848, keep an eye out for the 1.29158 hourly port hurdles. Short-term traders must monitor for support or resistance breakouts before taking extra risks to benefit from the pound market. At this stage, he will focus on the amount of bases. The short-term reversible correction might be 38.3% of the Fibonacci reversal gear 1.31718, following which the bottom of the upward convergence would intersect the breakout higher range at 1.40158.