GBPUSD technical analysis.

GBPUSD - Daily

Market (55 above 21) is bullish. Price (5 above 8) is bullish. Stochastic is overbought. Price at resistance: MM4/1.28/ 1.285. Other level of Resistance at: MR2/1.29 and 1.30. Support levels at: 1.265, 1.26/MM3/1.255 and MPP/1.24. Price is at the 200 EMA which is fair market price.

GBPUSD - H4

Market (21 above 55) is flat. Price (5/8) is converging. Stochastic is overbought and starting to move down. Price is in a range with support at WPP/1.275/MR1 and resistance at WM3/1.285. Other support levels at: WM2/1.265 and 1.26/WS1/MM3 and resistance levels at: 1.29. When price break the range support level and make a lower low, I will wait for price to retrace and then sell when it makes a lower high at WPP/1.275/MR1.

Leave a Reply

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