GBPUSD

GBPUSD seems to be forming a triangle wave e, the last leg of the formation. The correction wave consists of primary sub-waves Ⓐ-Ⓑ-Ⓒ. Wave Ⓐ is a 5-wave impulse, and wave Ⓑ resembles a double zigzag. Currently, prices are structuring… Read More

The Pound sterling briefly rose to highs of 1.2364 before retreating lower. Price action is currently back near the price level of 1.2275. Given that this proved to be a resistance level, the retest will likely establish it as support.… Read More

The GBPUSD currency pair is up almost 1.3% intraday. The gains follow after the technical bullish resistance which formed in the previous sessions. This is validated with prices breaking past the technical resistance level of 1.2277.… Read More

The pound sterling is gradually falling back albeit consolidating right near the falling trend line. The declines were triggered after GBPUSD failed near the resistance level of 1.2277. Prices are now inside the new range with the… Read More

The British pound promptly retreated after rising to the 1.2277 level. This potentially indicates resistance at this level. However, the trend line is coming in as dynamic support, and price action is consolidating around this trend… Read More

GBPUSD is maintaining a steady pace as the recent rally has pushed price to the technical resistance area of 1.2271. The strong hidden divergence on the Stochastics points to a possible correction lower. Given that GBPUSD has formed a… Read More

The pound sterling is building up gains on the back of a weaker USD. But, the current price action suggests that the gains might be overdone for the moment. This comes as there is a confluence of the horizontal resistance level and… Read More

The pound sterling is posting modest gains after prices briefly slipped below the 1.2100 psychological level of support. The downside bias is towards 1.1950 and this little recovery could see a retest of 1.2277. This level previously… Read More

The British pound fell to a two-month low into Friday’s close. The declines came about after the currency failed to hold on to the support level near 1.2277. The descending triangle pattern forming as a result, is validated after the… Read More

The pound sterling fell to a one month low on an intraday basis after the currency pair lost the 1.2277 support area. Price action is currently rebounding following the declines. But, the gains will likely stall near the 1.2277 level… Read More