DAILY GBP/USD TECHNICAL OUTLOOK
Last Update At 14 Mar 2018 00:56GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
1.3947
55 HR EMA
1.3912
Trend Hourly Chart
Up
Hourly Indicators
Rising
13 HR RSI
69
14 HR DMI
+ve
Daily Analysis
Resumption of recent upmove
Resistance
1.7070 - Feb 26
1.4029 - 50% r of 1.4346-1.3712
1.3997 - Feb 27 high
Support
1.3917 - Mon's high (now sup)
1.3875 - Y'day's low
1.3841 - Mon's low
. GBP/USD - 1.3972.. Although the British pound remained under pressure in Asia n retreated to 1.3875, price erased intra-day losses n rallied to 2-week high of 1.3994 on dlr's weakness after firing of U.S. Sec. of State by Trump.
. On the bigger picture 1st, cable's major ascent fm 2016 31-year bottom at 1.1491 caused by a 'flash crash' on Brexit worries to 1.3659 (Sep 2017) confirms major trough has been made. Despite rally in Jan after penetrating said res to an 18-month peak at 1.4346, subsequent decline to 1.3765 in early part of Feb n then last Wed's break of this key sup to 1.3712 (Thur) confirms top is in place as this lvl was also accompanied by 'bearish divergences' on daily indicators n downside bias remains for a stronger correction of aforesaid uptrend fm 1.1491 twds 1.3587 (50% r, 1.3027-1.4346) this month. On the upside, only abv 1.4070 signals low is in place n risks stronger gain to 1.4145 in Apr.
. Today, y'day's rally abv prev. Mar's high at 1.3930 confirms the recent upmove fm 1.3712 has resumed n gain twds 1.4029 (50% r of 1.4346-1.3712) would be seen, as hourly indicators would display minor 'bearish divergences' on such move, res at 1.4070 shud hold. Only below 1.3930 signals top is made,risks 1.3875
-636566112963791020.png)
Interested in GBPUSD technicals? Check out the key levels
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Ethereum could remain inside key range as Consensys sues SEC over ETH security status
Ethereum appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the US SEC and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.