Main movement of currency pair
GBP/USD is in a sideways trend, Tenkan and Kijun lines move in parallel above the price curve, the price moves below the descending cloud, the ascending movement of currency pair is predicted. Traders should take “buy” positions above the level of resistance 1,4912, to fix profit at the following levels of resistance 1,4950, 1,4990.
Alternative movement of currency pair
If pair GBP/USD manages to break through and get fixed below the level of support 1,4850, continuation of the descending movement to the following levels of support 1,4800, 1,4770 will be possible.
Level of support: 1,4912; 1,4950 1,4990.
Level of resistance: 1,4850; 1,4800; 1,4770.
Recommended Content
Editors’ Picks
AUD/USD bounces to 0.6450, shrugs off mixed Australian jobs data
AUD/USD is rebounding to test 0.6450 amid renewed US Dollar weakness in the Asian session on Thursday. The pair reverses mixed Australian employment data-led minor losses, as risk sentiment recovers.
USD/JPY drops to test 154.00 on Japan's intervention warnings
USD/JPY extends losses to test 154.00 in Asian trading on Thursday. The pair is undermined by the latest US Dollar pullback, Japan's FX intervention risks and a softer risk tone. Focus shifts to more Fedspeak and US data.
Gold price finds buyers again near $2,355 as USD licks its wounds
Gold price is attempting a tepid bounce in the Asian session, having found fresh demand near $2,355 once again. Gold price capitalizes on a softer risk tone and an extended weakness in the US Treasury bond yields, despite the recent hawkish Fed commentary.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price was not spared from the broader market crash instigated by a weakness in the Bitcoin market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.
Investors hunkering down
Amidst a relentless cautionary deluge of commentary from global financial leaders gathered at the International Monetary Fund and World Bank Spring meetings in Washington, investors appear to be taking a hiatus after witnessing significant market movements in recent weeks.