empty
 
 

Forex Analysis & Reviews: December 6, 2022 : GBP/USD Intraday technical analysis and significant key-levels.
time 06.12.2022 07:33 PM
time Relevance up to, 07.12.2022 07:33 PM

This image is no longer relevant

Previously, the GBP/USD pair remained under bearish pressure to challenge the new daily low established around 1.2150 which was bypassed few days after.

However, considerable support zone existed around 1.1850-1.1900 which has prevented further bearish decline for sometime.

However, as bullish momentum started to fade away, more bearish visits were expected to challenge new historical low level around 1.0600 where significant Fibonacci Expansion level was located.

Further bullish continuation above 1.1765 was expected in previous articles specially after the newly-established ascending bottoms around 1.1150 and 1.1750 remained defended by the bulls.

The next key-level to be visited was located around 1.2340. That's why, further bullish advancement was expected.

Price action around 1.2340 was being watched for bearish rejection and a short-term SELL Entry. It's already running in profits

on the other hand, another bearish pullback towards the price levels of 1.1750 should be expected for another long-term BUY Entry with initial target around 1.2350.

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

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • 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 $1000 more!
    In February we raffle $1000 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

Indicator analysis: Daily review of GBP/USD on February 7, 2023

The pound-dollar pair may move upward from the level of 1.2015 (closing of yesterday's daily candle) to test 1.2108, the 23.6% pullback level (yellow dotted line). When testing this level

Stefan Doll 08:41 2023-02-07 UTC+2

Technical Analysis of Daily Price Movement of EUR/USD Main Currency Pair, Tuesday February 07, 2023.

With the appearance of deviations between price movements and the Stochastic Oscillator indicator, the EUR/USD main currency pair is confirmed to have downward movement but in the next few days

Arief Makmur 08:32 2023-02-07 UTC+2

Technical Analysis of Daily Price Movement of Gold Commodity Asset, Tuesday February 07, 2023.

On the daily chart, the gold commodity asset appears to be biased to still be in a bullish condition. This can be seen from the price movement inside the Pitchfork

Arief Makmur 08:32 2023-02-07 UTC+2

Indicator analysis: Daily review of EUR/USD on February 7, 2023

The euro-dollar pair may move upward from the level of 1.0725 (closing of yesterday's daily candle) to test 1.0756, the 14.6% pullback level (red dotted line). From this level, continued

Stefan Doll 08:31 2023-02-07 UTC+2

Forecast for EUR/USD on February 7, 2023

Yesterday, the euro managed to overcome the support of the 1.0758/87 target range as well as the MACD line, which has already been embedded. Now the nearest target is 1.0660

Laurie Bailey 03:53 2023-02-07 UTC+2

Forecast for GBP/USD on February 7, 2023

On the daily chart, the British pound price has settled below the balance indicator line. The current short-term trend is a downtrend, but the reversal of the oscillator line indicates

Laurie Bailey 03:53 2023-02-07 UTC+2

Forecast for USD/JPY on February 7, 2023

Yesterday, the Japanese yen lost 146 points on news about the next Bank of Japan governor as current BOJ Governor Haruhiko Kuroda is set to leave his position on April

Laurie Bailey 03:53 2023-02-07 UTC+2

Technical analysis of EUR/USD for February 06, 2023

The EUR/USD pair continues to move downwards from the level of 1.0785. Yesterday, the pair dropped from the level of 1.0833 (this level of 1.0833 coincides with the double

Mourad El Keddani 23:57 2023-02-06 UTC+2

February 6, 2023 : EUR/USD daily technical review and trading opportunities.

The market has remained under buying pressure until a plateau level occurred around the key-zone around 1.0800-1.0850. In the mean time, any downside movement towards 1.0300 should be watched

Mohamed Samy 19:34 2023-02-06 UTC+2

February 6, 2023 : EUR/USD Intraday technical analysis and trading plan.

Price action around the key-level of (1.0550-1.0600) was quite bullish. That's why, further bullish continuation towards 1.0800 was demonstrated. Moreover, more bullish advancement towards the nearest supply zone around 1.1150-1.1200

Mohamed Samy 19:34 2023-02-06 UTC+2
Can't speak right now?
Ask your question in the chat.