The GBPUSD edged higher to trade at $1.2550, right below a significant resistance level of $1.2570. Below this level, we can catch retracement in the pair up to $1.2535 and $1.2515. At this moment, the pair is trading above a moving average and a significant resistance area of 1.2575. We can expect a pull back in the pair as the RSI is holding at the bought territory of 70. Technically, the GBPUSD can find resistance at 1.2565 and 1.2590. Whereas, the supports remains at 1.2525 and 1.2495.

RICS House Price Balance
BOE Credit Conditions Survey
CB Leading Index m/m

PPI m/m
Unemployment Claims
Core PPI m/m
Prelim UoM Consumer Sentiment
Prelim UoM Inflation Expectations
Natural Gas Storage

Trading Range:
1.0750 – 1.0500

Support & Resistance Levels
R3: 1.2679
R2: 1.2527
R1: 1.2433
Pivot Point: 1.228
S1: 1.2128
S2: 1.2034
S3: 1.1881

Buy Above: 1.2525
Take Profit:
1st @ 1.2550
Stop Loss @ 1.2500

GBPUSD - Chart

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.