The GBP/USD, good technical round number levels

fxstrategist

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The Pound loses ground versus its main counterparts, especially versus the Dollar, amid the uncertainty surrounding the Brexit. It looks like the UK will be leaving the EU without a trade agreement in place. The GBP/USD breaks below a bearish channel on the daily chart and drops below the support at the 1.2660 level along with the 1.2600 level. The pair comes close to the 1.2500 zone which could act as support, but below the 1.2500 level, its next support could be the 1.2400 level. To the upside, in case of a pullback, the 1.2660 level could change from support to resistance. Another possible scenario is that the GBP/USD could stay consolidated between the 1.2500 level and the 1.2600 level.

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fxstrategist

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The GBPUSD is very technical, bouncing from the 1.2500 level to the 1.2660 leve, which acted as support in the past. The pair breaks below the 1.2600 level, and it could go back to the 1.2500 level.
 

fxstrategist

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Volatility on the GBP/USD, the pair reaches the 1.2700 level and bounces to the downside, the 1.2600 level may act as support, but a better support should be the 1.2500 zone.
 

fxstrategist

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The GBPUSD finds a good resistance at the 1.2800 level and drops to the 1.2700 level, just below its 55 day EMA. The 1.2700 level may act as support on the GBPUSD and the 1.2800 level may continue acting as resistance.
 

fxstrategist

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The GBPUSD reaches again the 1.2800 level, but it has not been able to break it to the upside. In case of a bullish breakout, the pair may visit the 1.2900 level and to the downside, the 1.2700 level is still its nearest support.
 

fxstrategist

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A lot of volatility on the GBPUSD with no clear direction. The daily candle has the shape of a long-legged doji, which is precisely an indication of high volatility with indecision. Above the 1.2900 level, its next resistance could be the 200 day EMA around the 1.3000 level. To the downside, the 1.2800 level may act as support.
 

fxstrategist

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The GBPUSD goes back up from the 1.3100 zone to the 1.3200 level which is acting as resistance. If the price continues rallying, the 1.3300 zone could act as resistance. To the downside, the 1.3000 zone with the 200 day and 55 day EMA could act as support.
 

fxstrategist

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High volatility on the GBPUSD during this week. The pair drops to the 1.3000 level where we cand find the 200 day EMA and bounces to the upside, above the 1.3100 level. The price how has a support at the 1.3100 level and a resistance at the 1.3200 level.
 

fxstrategist

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Good pullback on the GBPUSD from the 1.2600 level, leaving behind a long lower shadow on the daily chart. The pair may find a resistance around the 1.2700 level. A bullish continuation could take the GBPUSD to the 1.2800 level.
 
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