In the middle of an aggressive buyout

13 December, 2018

  • Prev Open: 1.24846
  • Open: 1.26245
  • % chg. over the last day: +1.11
  • Day's range: 1.25984 – 1.26445
  • 52 wk range: 1.2480 – 1.4378

GBP/USD is in the middle of an aggressive buyout. During the last two trading days, the quotes grew by 170 pips. The Conservative Party of the UK voted on the confidence in the Prime Minister May. She was supported by 200 out of 317 conservatives and passed the votum of no confidence. The local support and resistance levels are 1.26400 and 1.27000. The trading instrument has prospects for growth.

The News Feed is calm for today.

GBP/USD

The price is testing 200 MA which is a strong dynamic resistance.

The MACD histogram is in the positive zone above the signal line, which gives a strong signal to buy GBP/USD.

Stochastic Oscillator is near the overbought zone, the %K line is above %D line, which also indicated a bullish mood.

Trading recommendations
  • Support levels: 1.26400, 1.26000, 1.25600
  • Resistance levels: 1.27000, 1.27400, 1.27800

If the price fixes above the round 1.27000, the GBP/USD quotes are expected to keep growing towards 1.27400-1.27600.

Alternatively, they can descend to 1.26000-1.25800.


Source link   Presented by JustForex

GBP/USD remains capped below 1.2600

Manages to recover on broad USD weakness, weaker US rates. Bearish bias intact amid dovish Carney's speech and weak UK fundamentals...

GBP/USD remains vulnerable

The GBP/USD pair traded with a mild negative bias for the third consecutive session on Friday and extended this week's rejection slide from...

GBP risks losing further 5%

Now that United Kingdom traders are returning back to office following a public holiday, we should expect for the fallout from the Brexit Party's...


GBP/USD clings to recovery gains

A modest USD pullback from two-year lows helped bounce of multi-month lows. The recovery got an additional boost following the release of UK...

Pound went below 1.27 on Brexit fears

The British Pound descended deeper into the abyss this morning with prices falling below $1.27 for the first time since January 2019 as uncertainty...

Sterling struggles to nurse wounds

The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips...


Sterling edges down

There were no surprises in the Bank of England's policy decision today to leave interest rates unchanged at 0.75%. The real surprise was the bank...

Pound awaits latest Brexit outcome

With 2 days to go before the EU summit regarding Brexit developments, time is running out for the UK government to come up with a solution to break the...

Rebound appears capped near 1.3200

GBP on the back foot as Parliamentary is set to vote on alternative Brexit options. Awaits fresh Brexit clarity while May’s future also remains a key decisive...

  


Share it on:   or