The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.3100, adding 1.24%. I believe that support is now at around 1,2808, Wednesday's low, and resistance is likely at 1.3095, the high of Friday's trading.
The GBP/USD, good technical round number levels
- Thread starter fxstrategist
- Start date
victoriajensen
Private, 1st Class
- Messages
- 1,117
GBP/USD finally found some resistance at 1.3110 and bounced off from that level after forming a shooting star candlestick on the four-hour time-frame. Next target is likely at 1.3000.
victoriajensen
Private, 1st Class
- Messages
- 1,117
GBP/USD bounced off from 1.2930 after forming a spinning top candlestick on the four-hour time-frame at that level and it will likely test 1.3000 next, which from a support will have become a resistance level.
fxstrategist
Corporal
- Messages
- 742
The GBPUSD gets to a low around the 1.2932 level and it may continue dropping towards the 1.2900 level, but right now the daily candle is leaving a relatively long shadow, indicating that the bulls are trying to come back into the market.
fxstrategist
Corporal
- Messages
- 742
The GBPUSD is still oscillating around the 1.3000 level, but the weakness remains. The pair may try to drop to the 1.2900 level.
The British pound recorded a volatile session against the US dollar on Monday. The currency pair started at 1.2992 and the pound registered a positive performance. Eventually, the currency pair ended at 1.3027 and if the upward trend continues, we can expect a break in the first resistance at 1.3090.
Similar threads
