Forex Technical Analysis GBP/USD 2012-06-12
- 2013-06-18
- 2013-06-10
- 2013-05-31
- 2013-05-23
- 2013-05-15
- 2013-05-07
- 2013-04-24
- 2013-04-15
- 2013-04-05
- 2013-03-28
- 2013-03-20
- 2013-03-12
- 2013-02-22
- 2013-02-13
- 2013-01-21
| Levels | Value |
| RES 3 | 1.6067 |
| RES 2 | 1.5792 |
| RES 1 | 1.5609 |
| SUP 1 | 1.5256 |
| SUP 2 | 1.5121 |
| SUP 3 | 1.5043 |
The British pound has been trading stronger against the US dollar in the last trading sessions, however it is still in a down trend formation since there is no reversal pattern in the daily chart. The GBPUSD bounced up from the 1.5256 support level to the 1.5609 resistance level after being under pressure the previous month. At the moment is trading just above the Moving Average (10) and below the Moving Average (20). Looking at the Oscillators, the Stochastic is in the neutral zone between the 75% and the 25% while the short-term Momentum and the OsMA are in an uptrend, therefore the correction may not be finished yet. To close, in the coming trading sessions the down trend could be confirmed if the 1.5256 support level is penetrated or a possible reversal pattern may be formatted.
