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

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