The GBP/USD, good technical round number levels

fxstrategist

Corporal
Messages
741
The GBPUSD finds a good support zone around the 1.2500 level and it is currently retracing towards the 1.2600 level which could act as resistance.
 

fxstrategist

Corporal
Messages
741
The GBPUSD is stuck in a 200 pip range between the 1.2000 level as support and the 1.2200 level as resistance. From the current levels, the pair may head in any direction, but the bearish trend is still in place.
 

fxstrategist

Corporal
Messages
741
The GBPUSD is oscillating around the 1.2200 level, but the bearish trend is still in place. The pair may go back down to the low at the 1.2000 level.
 

fxstrategist

Corporal
Messages
741
The GBPUSD retraces to the upside, but it consolidates between the 1.2400 level as support and the 1.2600 level with the 200 day EMA as resistance. The pair may break out in any direction, but a bullish breakout is possible.
 

fxstrategist

Corporal
Messages
741
Possible breakdown on the GBPUSD below the 1.2300 level, which could take the price to the 1.2200 area. To the upside, the 1.2400 level could act as resistance.
 

fxstrategist

Corporal
Messages
741
The long legged doji is a sign of uncertainty with high volatility. That is what we are seeing on the GBPUSD daily chart. On the daily candle we can see that the priced dropped to the 1.2200 leve and then pulls back to the 1.2300 zone to consolidate again at that level.
 

fxstrategist

Corporal
Messages
741
The GBPUSD keeps surrounding the 1.2300 level with no clear direction. The pair may take off in any direction, but when it does, the momentum may accelerate significantly. The 1.2200 level may act as support and the 1.2400 level may act as resistance.
 

Passiontrader

Private, 1st Class
Messages
47
run towards resistance, 1.2600 level ?
GBPUSD.jpg
 

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fxstrategist

Corporal
Messages
741
The GBPUSD is stuck, oscillating around the 1.2900 level without a clear direction. The bullish short-term trend is still in place, but the price may break in any direction above the 1.3000 level or below the 1.2800 level.
 
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