GBP/USD is still being traded in a long flat

27 December, 2018

  • Prev Open: 1.26602
  • Open: 1.26311
  • % chg. over the last day: -0.32
  • Day's range: 1.26284 – 1.26665
  • 52 wk range: 1.2477 – 1.4378

The GBP/USD is still being traded in a long flat. There is no single defined trend. The key support and resistance levels are 1.26300 and 1.26750. Positions should be opened from these levels. You should keep an eye on the US news feed.

The Economic News Feed for 27.12.2018 is calm.

The indicators do not provide precise signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell GBP/USD.

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

Trading recommendations

  • Support levels: 1.26300, 1.26000, 1.25750
  • Resistance levels: 1.26750, 1.27000, 1.27350

If the price fixes above 1.26750, consider buying GBP/USD. The movement will tend toward 1.27000-1.27350.

Alternatively, the quotes can descend toward 1.26000-1.25750.

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