empty
 
 
03.05.2023 06:02 PM
May 3, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

This image is no longer relevant

The market displayed a positive trend between 1.0400 and 1.0600, which prevented further losses.

Bulls kept supporting the increasing lows at 1.1150 and 1.1750, indicating a probable continuation of the positive trend above 1.1750.

At 1.2340, bears initially resisted the price, but bulls recovered. However, the GBPUSD bulls could not create a new high and instead made a double-top pattern around the same price level.

As a result, a negative correction towards 1.1800 happened, which was seen as a good chance to buy with an initial goal of around 1.2350.

Recent fundamental analysis shows that the GBPUSD pair has been backed by the UK's economic recovery and successful vaccination campaign, while the USD has been weakened by low interest rates and inflation concerns.

Despite this optimistic outlook, traders should be careful and pay attention to any news that may affect the performance of the currency pair.

If the pair keeps moving up steadily above 1.2340, it could potentially reach 1.2700. However, if the current positive breakout turns out to be a false one, another negative movement towards 1.1750-1.1800 could be expected.

Summary
Urgency
Analytic
Mohamed Samy
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 $9000 más!
    ¡En Mayo, sorteamos $9000 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