Breaking News
0

GBP/USD Recovery Could Fail Near 1.2700

By Titan FXForexDec 17, 2018 09:23PM ET
www.investing.com/analysis/gbpusds-recovery-could-fail-near-12700-200368921
GBP/USD Recovery Could Fail Near 1.2700
By Titan FX   |  Dec 17, 2018 09:23PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Key Highlights

  • The Britsh pound found support near 1.2475 and recently recovered against the U.S. dollar.
  • There are two important bearish trend lines in place with resistance near 1.2700 on the 4-hours chart of GBP/USD.

GBP/USD Technical Analysis

Looking at the 4-hours chart, the pair started a short term recovery from the 1.2475 support. It climbed above the 1.2500, 1.2560 and 1.2600 resistance levels. There was also a break above the 38.2% fibonacci retracement level of the last decline from the 1.2839 high to 1.2476 low.

However, the pair is facing a solid resistance near the 1.2675 and 1.2700 levels plus the 100 simple moving average (red, 4-hours). More importantly, there are two important bearish trend lines in place with resistance near 1.2700.

Therefore, it won’t be easy for buyers to clear the 1.2700 hurdle in the short term. Above 1.2700, the pair is likely to move into a positive zone and it could climb towards 1.2800 or even 1.2850.

On the downside, the 1.2560 level is an initial support, below which there is a risk of more losses towards 1.2500 or 1.2475.

GBP/USD, H4
GBP/USD, H4

GBP/USD Recovery Could Fail Near 1.2700
 

Related Articles

GBP/USD Recovery Could Fail Near 1.2700

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email