GBP/USD keeps trading in a long flat

21 December, 2018

  • Prev Open: 1.26079
  • Open: 1.26532
  • % chg. over the last day: +0.47
  • Day's range: 1.26398 – 1.26976
  • 52 wk range: 1.2477 – 1.4378

The GBP/USD keeps trading in a long flat. The technical picture is ambiguous. The Bank of England, as expected, kept the monetary policy at the same levels. The GBP is supported by the positive retail sales report in the UK. The investors are looking forward to more data regarding Brexit. The key trading range is 1.26350-1.26800, positions should be opened from these levels.

At 11:30 (GMT+2:00) the UK will publish a GDP report.

Indicators do not provide precise signals, 50 MA started to cross 200 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

  • Support levels: 1.26350, 1.26000, 1.25400
  • Resistance levels: 1.26800, 1.27550, 1.28000

If the price fixes above 1.26800, consider buying GBP/USD. The movement will tend toward 1.27400-1.27750.

Alternatively, the quotes can descend toward the round 1.26000.

Source link   Presented by JustForex

GBPUSD headed for 1.30 after UK

The Pound soared towards the 1.30 level against the US Dollar, after UK Prime Minister Boris Johnson and European Commission President...

Pound steady as Brexit negotiators race to meet deadline

The Pound is gaining against the US Dollar, amid reports that Brexit negotiators are rushing to try and meet a midnight...

Sterling Rises on Brexit Plan Release

A sea of red in US stocks yesterday after the US reported weak PMI data. The Dow Jones Industrial Average declined by 343 points while the Nasdaq...

GBP/USD pair fell by more than 1.2%

Yesterday, the GBP/USD pair fell by more than 1.2% amid Brexit uncertainty. The chances of next UK elections grow, so the bilateral agreement will...

UK Supreme Court rules parliament shutdown unlawful

Boris Johnson was dealt a heavy blow on Tuesday after the Supreme Court ruled his suspension of Parliament "unlawful, void and to no effect".

Sterling whipsawed on Brexit chaos

It is going to be an incredibly eventful and extremely volatile trading week for the British Pound as MPs return to Parliament on Tuesday...

Warning lights flash red

Confidence over the health of the UK economy was dealt a gut-wrenching blow this morning after GDP growth contracted for the first time since 2012...

Sterling struggles to nurse wounds

The past few days have offered investors a bitter appetizer on what to expect in the months ahead after Boris Johnson became the...

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...


Share it on:   or