GBPUSD seems to be recovering from its multi-year low of 1.1350 and is currently trading at 1.1446. The intraday support levels are at 1.1377 and 1.1323. The near-term resistance areas are at 1.1464 and 1.1497. At the moment, bulls need to breach above the 1.1464 resistance area to move any further higher. Failing to achieve that may send the GBPUSD pair lower once again.
GBPUSD Technical Analysis Today
After a massive decline in the past weeks, the Stochastic, RSI (Relative Strength Index), and BB (Bollinger Bands) finally present a neutral picture. The Average True Range (ATR) shows low volatility while the MACD is below the zero line and still favors the bears. The GBP USD rate is below 20, 50, and 100 period moving averages.
0.0113 (Volatility down)
Below Zero line (-0.0116)
The FXDatapanel Forex smart analysis report is a combination of technical and fundamental analysis. It includes related news, a technical snapshot of the GBP USD pair, trading signals, trading ranges, and pivot points.
Smart report is a one-stop solution for all currency traders to obtain useful information and analysis about the GBPUSD or any other currency pair.
GBPUSD Key Support and Resistance Today
Support and resistance relate to many GBPUSD Trading Strategies. Buy low sell high is a common trading strategy that requires support and resistance levels to execute the trades. For example, when the GBP USD Rate reaches a support level, it indicates a buying signal. Likewise, when the GBPUSD price reaches a resistance level, it indicates a short sell or exit opportunity for the long trades. It is one of the most straightforward trading strategies for GBP/USD or any other currency pair. As a matter of fact, more elaborated and advanced trading strategies require much more than just the support and resistance levels.
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GBP/USD Pivot Points Today
GBP/USD Trading Ranges Today
GBPUSD Daily Trading Range: 1.1409 – 1.1461
GBPUSD Weekly Trading Range: 1.1355 – 1.1461
GBPUSD Monthly Trading Range: 1.1351 – 1.1738
GBPUSD Yearly Trading Range: 1.1351 – 1.3749
GBPUSD Trade Signal Today
GBPUSD Signal Direction: Buy
Signal Timeframe: Daily
Signal Strength Level: Normal
Take Profit: 1.1570
FXDatapanel Trading signal platform provides signals for short, medium, and Long term Forex Investing. However, as a GBP USD investor or any other currency pair investor, you can generate two types of trade signals; Grid signals and straight signals. A Grid signal is a set of four trades with entry take profit and a combined stop-loss for all four trades, while a straight signal contains only entry and exit levels.
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GBPUSD Analysis and Forecast
GBPUSD analysis suggests a modest rise in the coming days. However, 1.1464 is an immediate resistance level, and bulls need to breach this level to continue the bullish momentum. On the downside, an intraday closing below 1.1400 will be a setback to the bulls. As it may lead to another drop towards 1.3000