GBP/USD PRICE ANALYSIS: CABLE RETREAT APPEARS ELUSIVE BEYOND 1.2690 SUPPORT CONFLUENCE

avatar
· Views 257



  • GBP/USD lacks upside momentum after refreshing one-week high.
  • Clear upside break of 50-SMA, three-week-old falling trend line joins upbeat oscillators to keep Pound Sterling bullish.
  • Cable sellers need validation from 200-SMA to retake control.

GBP/USD bulls take a breather amid the early hours of Wednesday’s Asian session, after refreshing the weekly top around 1.2740 the previous day. That said, the Pound Sterling seesaws near 1.2710-15 by the press time.

Despite the latest inaction, or say a lack of bullish action, the Cable pair remains on the buyer’s radar as it broke the key resistance confluence, now support, comprising the 50-SMA and a downward-sloping trend line from June 16, close to 1.2690.

Also keeping the GBP/USD buyers hopeful are the bullish MACD signals and the upbeat RSI (14) line, not overbought.

With this, the Cable pair’s retreat appears elusive unless breaking the 1.2690 support confluence.

Even if the Pound Sterling drops below the 1.2690 key support, an upward-sloping trend line stretched from May 25 and the 200-SMA, respectively near 1.2630 and 1.2570, could challenge the GBP/USD bears before giving them control.

Meanwhile, GBP/USD run-up needs to cross 1.2740 for a fresh boost toward the 1.2800 round figure.

Following that, the latest multi-month peak marked in June around 1.2850 will be in the spotlight.

Should the RSI (14) line fail to stop the bulls around 1.2850, as it is rushing towards the overbought territory, then the GBP/USD upside may aim for the 61.8% Fibonacci Extension (FE) of its late May to June 29 moves, near 1.2925


免責事項:本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 1

古いコメントはありません。ソファをつかむ最初のものになりましょう。

  • tradingContest