An intraday bounce from H4 demand at 1.2525/1.2575?
GBP/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 remains in motion in June, with the month currently recording gains of more than 2% despite facing long-term trendline resistance (1.7191).
Concerning the primary trend, lower peaks and troughs have decorated the monthly chart since early 2008.
Daily timeframe:
Off best levels a touch ahead of supply from 1.3021/1.2844 on Wednesday witnessed GBP/USD dive more than 1% Thursday, causing an enthusiastic move back through the 200-day simple moving average at 1.2678.
Not only did recent selling pull the RSI indicator from overbought status, it shines light on demand at 1.2192/1.2361, essentially representing the decision point to crack 1.2647 (April 14 high).
H4 timeframe:
Early Asia Friday nudged H4 into demand made up from 1.2525/1.2575, an area aligning with trendline support (1.2163). What’s appealing about this demand is the sell-stops tripped on approach beneath local bottoms around 1.2617.
H1 timeframe:
Early Asia on the H1 timeframe has sellers governing control under 1.26, with eyes on demand at 1.2527/1.2550. This is a particularly important intraday zone as it was effectively the decision point to drive into 1.25 on June 4. The concern for buyers at this area, however, is the threat of a whipsaw to 1.25.
Structures of Interest:
Monthly trendline resistance recently made an entrance, which, owing to the long-term downtrend, appears to be capping upside. Breaking through the 200-day SMA on the daily timeframe certainly adds weight to additional losses.
An intraday bounce from H4 demand at 1.2525/1.2575 is in the offing, particularly at the aligning trendline, which essentially combines with H1 demand at 1.2527/1.2550. Though do be aware a whipsaw to 1.25 here is possible.
Short plays, based on higher-timeframe direction, likely appeal under 1.25 on the H1, void of support until 1.2450.
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 remains in motion in June, with the month currently recording gains of more than 2% despite facing long-term trendline resistance (1.7191).
Concerning the primary trend, lower peaks and troughs have decorated the monthly chart since early 2008.
Daily timeframe:
Off best levels a touch ahead of supply from 1.3021/1.2844 on Wednesday witnessed GBP/USD dive more than 1% Thursday, causing an enthusiastic move back through the 200-day simple moving average at 1.2678.
Not only did recent selling pull the RSI indicator from overbought status, it shines light on demand at 1.2192/1.2361, essentially representing the decision point to crack 1.2647 (April 14 high).
H4 timeframe:
Early Asia Friday nudged H4 into demand made up from 1.2525/1.2575, an area aligning with trendline support (1.2163). What’s appealing about this demand is the sell-stops tripped on approach beneath local bottoms around 1.2617.
H1 timeframe:
Early Asia on the H1 timeframe has sellers governing control under 1.26, with eyes on demand at 1.2527/1.2550. This is a particularly important intraday zone as it was effectively the decision point to drive into 1.25 on June 4. The concern for buyers at this area, however, is the threat of a whipsaw to 1.25.
Structures of Interest:
Monthly trendline resistance recently made an entrance, which, owing to the long-term downtrend, appears to be capping upside. Breaking through the 200-day SMA on the daily timeframe certainly adds weight to additional losses.
An intraday bounce from H4 demand at 1.2525/1.2575 is in the offing, particularly at the aligning trendline, which essentially combines with H1 demand at 1.2527/1.2550. Though do be aware a whipsaw to 1.25 here is possible.
Short plays, based on higher-timeframe direction, likely appeal under 1.25 on the H1, void of support until 1.2450.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.