The Pound
versus the Dollar keeps its bullish trend, as shown on the daily chart, but it
has found some resistance around the 1.4600 level. Just above the 1.4600 level,
we can see the 200 day exponential moving average, which the pair may try to
visit. A visit to the 200 day EMA may cause the GBP/USD to bounce back down
from there, especially when just above that moving average we can see the
1.4700 level, which could also contribute for the area to become resistance.
Above the 1.4700 level, the 1.4800 could act as its next resistance. To the
downside, we can see various round number levels that could act as support, but
the most relevant could be the 1.4300 level, where we can also see the 55 day
exponential moving average, purple line.
Thank you for sharing, it's very useful analysis.
ReplyDeleteIt seems it found some resistance at 1.4640.
ReplyDeleteLet’s see if the FOMC spurs more risk appetite today.
ReplyDeleteThe FOMC announcement will definitely have quite the effect on the pair.
ReplyDeleteA nice pullback after the fed meeting!
ReplyDeleteThe gain limited to 1.46 level.
ReplyDeleteHelpful analysis.
ReplyDeleteExpecting a move down.
ReplyDelete