empty
 
 
05.12.2022 10:33 AM
Technical Analysis of GBP/USD for December 5, 2022

Technical Market Outlook:

The GBP/USD pair has extended the up move towards the level of 1.2343 despite the extremely overbought market conditions. There is a clear bearish divergence made between the price and the momentum indicator on the H4 time frame chart, so please expect a pull- back soon. The nearest technical support is seen at 1.2154 and 1.2026. The bulls keeps trading inside the pitchfork upper half, so the momentum remains high and positive.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.24283

WR2 - 1.23713

WR1 - 1.23415

Weekly Pivot - 1.23143

WS1 - 1.22845

WS2 - 1.22573

WS3 - 1.22003

Trading Outlook:

The bulls are temporary in control of the market and the 50% Fibonacci retracement of the last big wave down located at 1.2293 had been tested, so a down trend resumprion is possible. On the other hand, the level of 1.0351 has not been tested since 1985, so the down trend is strong. In order to terminate the down trend, bulls need to close the weekly candle above the level of 1.2275 (swing high from August 10th).

GBPUSD
Great Britain Pound vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Forecast for EUR/USD on March 28. ECB's de Cos: regulator will monitor incoming information more closely

On Monday, the EUR/USD pair rebounded from the 1.0750 level and carried on its upward trend toward the corrective level of 200% (1.0861). The US dollar will benefit from

Samir Klishi 17:29 2023-03-28 UTC+2

Forecast for GBP/USD on March 28, 2023

The GBP/USD pair increased on Monday, and today it came quite near to the level of 1.2342, according to the hourly chart. The US dollar will once more benefit from

Samir Klishi 17:17 2023-03-28 UTC+2

Video market update for March 28, 2023

Potential for the upside move on crude

Petar Jacimovic 12:54 2023-03-28 UTC+2

Forex forecast 03/28/2023 AUD/USD, EUR/USD, USD/CAD and Gold from Sebastian Seliga

Let's take a look at the technical picture of AUD/USD, EUR/USD, USD/CAD and Gold

Sebastian Seliga 10:51 2023-03-28 UTC+2

Indicator analysis: Daily review of GBP/USD on March 28, 2023

The pound-dollar pair may move upward from the level of 1.2282 (closing of yesterday's daily candle) to test 1.2352, the 85.4% pullback level (blue dotted line). When testing this level

Stefan Doll 09:57 2023-03-28 UTC+2

Indicator analysis: Daily review of EUR/USD on March 28, 2023

The euro-dollar pair may move upward from the level of 1.0796 (closing of yesterday's daily candle) to 1.0835, the 61.8% pullback level (red dotted line). Upon reaching this level, continued

Stefan Doll 09:46 2023-03-28 UTC+2

Technical Analysis of GBP/USD for March 28, 2023

Technical Market Outlook: The GBP/USD pair has broken below the short-term trend line support and made a new local low at the level of 1.2189 and is currently moving

Sebastian Seliga 08:30 2023-03-28 UTC+2

Technical Analysis of EUR/USD for March 28, 2023

Technical Market Outlook: The EUR/USD pair has broken below the short-term trend line support (orange line on chart) and made a local low at the level of 1.0712. Since then

Sebastian Seliga 08:29 2023-03-28 UTC+2

Analysis of Gold for March 28,.2023 - Bear flag pattern and potential for the downside continuation

Technical analysis: Gold has been trading downside yesterday and I see potential for the downside continuation today. Due to the downside momentum in the background and the bear flag pattern

Petar Jacimovic 08:16 2023-03-28 UTC+2

Technical Analysis of Daily Price Movement of Silver Commodity Asset, Tuesday March 28, 2023.

After testing the 22,964 level which is a significant resistance level on the daily chart of Silver commodity assets, it seems that in the next few days Silver

Arief Makmur 08:13 2023-03-28 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.