GBP/USD Edge Lower While EUR/GBP Could Surge
Обновлено
GBP/USD started a fresh decline from well above the 1.3120 level. EUR/GBP is rising and might attempt an upside break above the 0.8300 resistance zone.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh decline from well above 1.3120 against the US Dollar.
· There was a break below a key contracting triangle with support near 1.3060 on the hourly chart of GBP/USD.
· EUR/GBP formed a base above 0.8250 and is currently rising.
· There is a major bearish trend line forming with resistance near 0.8290 on the hourly chart.
GBP/USD Technical Analysis
The British Pound struggled to settle above the 1.3120 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3080 support zone.
There was a clear move below the 1.3050 level and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.2972 swing low to 1.3146 high
Besides, there was a break below a key contracting triangle with support near 1.3060 on the hourly chart of GBP/USD.
The pair is now trading near 1.3020. The next major support sits near the 1.3110 level. It is near the 76.4% Fib retracement level of the upward move from the 1.2972 swing low to 1.3146 high. Any more losses could lead the pair towards the 1.2975 support zone or even 1.2950.
On the upside, an initial resistance is near the 1.3040 level. The next main resistance is near the 1.3070 zone and the 50 hourly simple moving average. A clear upside break above the 1.3070 and 1.3100 resistance levels could open the doors for a steady increase in the near term.
Important Takeaways for GBP/USD and EUR/GBP
· The British Pound started a fresh decline from well above 1.3120 against the US Dollar.
· There was a break below a key contracting triangle with support near 1.3060 on the hourly chart of GBP/USD.
· EUR/GBP formed a base above 0.8250 and is currently rising.
· There is a major bearish trend line forming with resistance near 0.8290 on the hourly chart.
GBP/USD Technical Analysis
The British Pound struggled to settle above the 1.3120 resistance zone against the US Dollar. The GBP/USD pair started a fresh decline below the 1.3080 support zone.
There was a clear move below the 1.3050 level and the 50 hourly simple moving average. The bears pushed the pair below the 50% Fib retracement level of the upward move from the 1.2972 swing low to 1.3146 high
Besides, there was a break below a key contracting triangle with support near 1.3060 on the hourly chart of GBP/USD.
The pair is now trading near 1.3020. The next major support sits near the 1.3110 level. It is near the 76.4% Fib retracement level of the upward move from the 1.2972 swing low to 1.3146 high. Any more losses could lead the pair towards the 1.2975 support zone or even 1.2950.
On the upside, an initial resistance is near the 1.3040 level. The next main resistance is near the 1.3070 zone and the 50 hourly simple moving average. A clear upside break above the 1.3070 and 1.3100 resistance levels could open the doors for a steady increase in the near term.
Заметка
Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
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