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GBPUSD Technical Analysis – 17th DEC, 2024
GBPUSD – Near Horizontal Resistance
GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2706 the prices started to decline against the United States Dollar today in the London Trading session.
We can see that the prices are ranging Near horizontal resistance in the 15-minutes timeframe.
The Bearish trend reversal: adaptative moving average 20 is visible in the 15-minutes timeframe.
Also, we can see Bearish price crossover with Moving Average 20 along with Bearish price crossover with adaptative moving average 100 present in the 15-minutes timeframe.
The Bearish price crossover with adaptative moving average 50 is visible in the 30-minutes timeframe.
We have seen RSI indicator: bearish divergence present in the 4-hourly timeframe.
We have detected Bearish trend reversal: adaptative moving average 100 in the weekly timeframe.
Also, the prices are ranging Near a new LOW record (1 year) in the weekly timeframe.
We can see Bearish trend reversal: Moving Average 50 in the weekly timeframe.
GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bearish reversal seen below the 1.2706 mark.
• Short-term range appears to be Bearish.
• GBPUSD continues to remain above the 1.2670 levels.
• Average true range ATR is indicating Less market volatility.
GBPUSD is now trading near to its Pivot levels of 1.2689 and is moving into a Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2671 and is now moving towards its next target of 1.2650 which is a 3-10 Day Moving Average Crossover Stalls.
We are also looking for the breach of the levels of 1.2635 which is a Price 1 Standard Deviation Support.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
GBPUSD – Near Horizontal Resistance
GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2706 the prices started to decline against the United States Dollar today in the London Trading session.
We can see that the prices are ranging Near horizontal resistance in the 15-minutes timeframe.
The Bearish trend reversal: adaptative moving average 20 is visible in the 15-minutes timeframe.
Also, we can see Bearish price crossover with Moving Average 20 along with Bearish price crossover with adaptative moving average 100 present in the 15-minutes timeframe.
The Bearish price crossover with adaptative moving average 50 is visible in the 30-minutes timeframe.
We have seen RSI indicator: bearish divergence present in the 4-hourly timeframe.
We have detected Bearish trend reversal: adaptative moving average 100 in the weekly timeframe.
Also, the prices are ranging Near a new LOW record (1 year) in the weekly timeframe.
We can see Bearish trend reversal: Moving Average 50 in the weekly timeframe.
GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bearish reversal seen below the 1.2706 mark.
• Short-term range appears to be Bearish.
• GBPUSD continues to remain above the 1.2670 levels.
• Average true range ATR is indicating Less market volatility.
GBPUSD is now trading near to its Pivot levels of 1.2689 and is moving into a Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2671 and is now moving towards its next target of 1.2650 which is a 3-10 Day Moving Average Crossover Stalls.
We are also looking for the breach of the levels of 1.2635 which is a Price 1 Standard Deviation Support.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.