GBPUSD Flies To New 34-Month High, Next Level 1.40

GBPUSD skyrocketed to a fresh 34-month high at 1.3950 after the successful climb above the 1.3745 area. The tendency has been strongly positive since May 2020 and the price is standing well above the short- and long-term simple moving averages (SMAs) in the daily timeframe.


In trend indicators, the Ichimoku lines are pointing upwards as well, while the RSI is heading north in the 70 levels and the stochastic oscillator is holding in the overbought zone, posting a bullish cross within the %K and %D lines.


If the buying interest persists and the pair continues the aggressive upside move, immediate resistance could come from the 1.4000 psychological level, ahead of the 1.4100 and 1.4200 round numbers. More gains could drive the market until the 1.4345 hurdles, registered in January 2018.


All in all, GBPUSD created five straight bullish weeks, however, in case of a downside correction, the next supports could be faced from 1.3745 and the ascending line around 1.3560. Penetration of the aforementioned line could shift the focus to neutral.


0 views0 comments

Recent Posts

See All

Credit 

Caution:

Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognize that for factors outside your control you may lose all of the money in your trading account. Many forex brokers also hold you liable for losses that exceed your trading capital. So you may stand to lose more money than is in your account. Smart Analysis Pvt takes not responsibility for loss incurred as a result of our trading signals. By signing up as a member you acknowledge that we are not providing financial advice and that you are making a the decision to copy our trades on your own account. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of our signals or advice on forex related products on this website.

PayPal

Credit  & Debit Card

  • Black Facebook Icon
  • Black Instagram Icon
  • Black YouTube Icon

© 2023 by Personal Life Coach. Proudly created with Wix.com