BREAKING NEWS : 1 Million Dollar Demo Contest, 10 Round monthly $50,000 withdrawable CASH Prize! + 500K for final 10 Winners! Hurry up, Join Now!
Written by experienced traders and professional market analysts, our Forex technical analysis is just what you need to get an edge in your Forex trading
Advertisement hotforex

GBP/USD Forecast: pressuring weekly lows

Written by Valeria Bednarik | 2017-08-11 09:41:27 GMT

From a technical point of view, the pair is bearish and with scope to extend its decline over the next hours, as in the 4 hours chart, a bearish 20 SMA keeps rejecting advances, now offering a dynamic resistance at 1.2990, while technical indicators remain within negative territory, gaining downward strength. Below 1.2950, the next intraday supports come at 1.2920 and 1.2870, while beyond the mentioned 1.2990, the next resistance comes at 1.3020, with an advance beyond this last being quite unlikely for today.

View live chart of the GBP/USD


Valeria Bednarik

Start Trading With Top Industry Brokers

Broker Profile Open Account
  • Minimum Deposit: 5 USD
  • Leverage of up to 1:888
  • Broker Type : Market Maker
  • Regulation : CySEC,ASIC ,FSP ,FCA
  • xm
  • Minimum Deposit: 100 USD
  • Leverage of up to 1:500
  • Broker Type : Market Maker
  • Regulation : CySEC
  • Markets
  • Minimum Deposit: 250 USD
  • Leverage of up to 1:200
  • Broker Type : Market maker
  • Regulation : CySEC
  • trade

    Contact us