GBP/USD and GBP/JPY Eye Key Upside Break
Обновлено
GBP/USD started a decent recovery wave above the 1.1250 resistance. GBP/JPY is also rising and might climb further higher above the 167.00 zone.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound started a recovery wave above the 1.1250 resistance against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.1395 on the hourly chart of GBP/USD.
· GBP/JPY declined heavily before it found support near the 165.00 zone.
· There is a major bearish trend line forming with resistance near 167.00 on the hourly chart.
GBP/USD Technical Analysis
This past week, the British Pound found support near the 1.1150 zone against the US Dollar. The GBP/USD pair formed a base and started a steady recovery wave above the 1.1200 level.
There was a clear move above the 1.1250 resistance and the 50 hourly simple moving average. The pair even traded above the 38.2% Fib retracement level of the main decline from the 1.1564 swing high to 1.1146 low (formed on FXOpen).
GBP/USD Hourly Chart
An immediate resistance on the upside is near the 1.1355 level. It is near the 50% Fib retracement level of the main decline from the 1.1564 swing high to 1.1146 low.
The next major resistance is near the 1.1380 level. There is also a key bearish trend line forming with resistance near 1.1395 on the hourly chart of GBP/USD, above which the pair could start a steady increase towards 1.1450.
An upside break above 1.1450 might start a fresh increase towards 1.1550. Any more gains might call for a move towards 1.1600 or even 1.1640.
An immediate support is near the 1.1300. The next major support is near the 1.1270 level and the 50 hourly simple moving average. If there is a break below the 1.1270 support, the pair could test the 1.1200 support. Any more losses might send GBP/USD towards 1.1150.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
Important Takeaways for GBP/USD and GBP/JPY
· The British Pound started a recovery wave above the 1.1250 resistance against the US Dollar.
· There is a key bearish trend line forming with resistance near 1.1395 on the hourly chart of GBP/USD.
· GBP/JPY declined heavily before it found support near the 165.00 zone.
· There is a major bearish trend line forming with resistance near 167.00 on the hourly chart.
GBP/USD Technical Analysis
This past week, the British Pound found support near the 1.1150 zone against the US Dollar. The GBP/USD pair formed a base and started a steady recovery wave above the 1.1200 level.
There was a clear move above the 1.1250 resistance and the 50 hourly simple moving average. The pair even traded above the 38.2% Fib retracement level of the main decline from the 1.1564 swing high to 1.1146 low (formed on FXOpen).
GBP/USD Hourly Chart
An immediate resistance on the upside is near the 1.1355 level. It is near the 50% Fib retracement level of the main decline from the 1.1564 swing high to 1.1146 low.
The next major resistance is near the 1.1380 level. There is also a key bearish trend line forming with resistance near 1.1395 on the hourly chart of GBP/USD, above which the pair could start a steady increase towards 1.1450.
An upside break above 1.1450 might start a fresh increase towards 1.1550. Any more gains might call for a move towards 1.1600 or even 1.1640.
An immediate support is near the 1.1300. The next major support is near the 1.1270 level and the 50 hourly simple moving average. If there is a break below the 1.1270 support, the pair could test the 1.1200 support. Any more losses might send GBP/USD towards 1.1150.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: CFDs are complex instruments and come with a high risk of losing your money.
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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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