empty
 
 
07.09.2020 07:47 AM
Technical Analysis of GBP/USD for September 7, 2020

Technical Market Outlook:

The GBP/USD pair has dropped to the level of 1.3175, which is below the 61% Fibonacci retracement seen at the level of 1.3215. All the bounces are shallow and being used to open more sell orders. The last bounce was capped at the level of 1.3283 and since then the market retraced more than a half of it. The next key technical support is seen at the level of 1.3183 - 1.3169. Any violation of this zone will open the road towards the next support seen at the level of 1.3121. The weekly time frame trend remains up.

Weekly Pivot Points:

WR3 - 1.3726

WR2 - 1.3600

WR1 - 1.3421

Weekly Pivot - 1.3292

WS1 - 1.3102

WS2 - 1.2995

WS3 - 1.2802

Trading Recommendations:

On the GBP/USD pair the main, multi-year trend is down, which can be confirmed by the down candles on the monthly time frame chart. Nevertheless, the recent rally form the multi-year lows seen at the level of 1.1404 has been successful and the trend might be reversing. The key long-term technical resistance is seen at the level of 1.3518. Only if one of these levels is clearly violated, the main trend might reverse (1.3518) or accelerate towards the key long-term technical support is seen at the level of 1.1404.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback