empty
 
 
07.12.2022 07:48 AM
GBP/USD: Breaking forecast on December 7, 2022

Due to the empty macroeconomic calendar, the pound mostly moved horizontally yesterday. However, by the close of the North American session, it seemed that market participants had remembered that the currency was overbought and pushed it down. In many ways, that happened both due to purely technical factors and the existing market disposition. In fact, the situation is unlikely to change today. The macroeconomic calendar will still be empty, and the sterling will remain overbought. In other words, market participants will still be guided by purely technical factors, which, together with the overbought pound, may well lead to a further decline in price. At the same time, if the fall happened, it is likely to be a modest one.

The GBP/USD pair pulled back from the swing high and broke through the support level of 1.2150. Consequently, a reversal took place. The current pullback may transform into a full-fledged correction.

When breaking through 1.2150 on the H4 chart, the RSI crossed line 50 to the downside. This signal indicates an increase in selling volumes. On the daily chart, the indicator is moving up in the range of 50/70.

The Alligator's MAs are intertwined on the H4 chart, which confirms a reversal intraday. On the daily chart, the Alligator is moving up, signaling bullish sentiment in the medium term.

This image is no longer relevant

Outlook

Consolidation below 1.2150 may lead to a fall in the pound to the psychological level of 1.2000. This seems to be a corrective movement, which does not violate the bullish cycle from the low.

Alternatively, if the price comes to a standstill near 1.2150, the bullish impulse will come to an end. Meanwhile, the quote will stay firm above 1.2200 on the daily chart.

In terms of complex indicator analysis, the ongoing correction generates a buy signal for short-term and intraday.

Dean Leo,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $8000 अधिक!
    में मार्च हम आकर्षित करते हैं $8000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback