News

GBP/USD Price Analysis: Pound corrects from 17-month highs, trades near 1.3330 level

  • The pound is correcting the massive bullish spike triggered by the UK elections. 
  • Support is seen at the 1.3344, 1.3288 and 1.3254 price levels.
 
 

GBP/USD daily chart

 
The market reached 17-month highs as the elections in the UK provided extreme volatility. The underlying trend stays bullish while above the main daily SMAs. 
 

GBP/USD four-hour chart

 
GBP/USD is correcting down after the massive bullish spike. The market is testing the 1.3344 support. If the correction goes on below that level the market could continue to slide towards the 1.3288 and 1.3254 price levels, according to the Technical Confluences Indicator
 
  

GBP/USD 30-minute chart

 
 
 
The spot is challenging the 50 SMA. Bulls seem to be absent this Friday. Resistance is seen at the 1.3435, 1.3455/62 and 1.3518 levels, according to the Technical Confluences Indicator.
  

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.