empty
 
 

Forex Analysis & Reviews: Technical analysis of GBP/USD for December 06, 2022
time 07.12.2022 12:18 AM
time Relevance up to, 08.12.2022 12:18 AM

This image is no longer relevant

Overview:

The GBP/USD pair has faced strong resistances at the levels of 1.2173 because support had become resistance on December 06, 2022. So, the strong resistance has been already formed at the level of 1.2173 and the pair is likely to try to approach it in order to test it again.

However, if the pair fails to pass through the level of 1.2173, the market will indicate a bearish opportunity below the new strong resistance level of 1.2173 (the level of 1.2173 coincides with a ratio of 78% Fibonacci).

Moreover, the RSI starts signaling a downward trend, as the trend is still showing strength above the moving average (100) and (50). Thus, the market is indicating a bearish opportunity below 1.2173 so it will be good to sell at 1.2173 with the first target of 1.2069.

It will also call for a downtrend in order to continue towards 1.2003. The daily strong support is seen at 1.2003.

The volatility is a statistical measure of a market's price movements in a given period of time. If prices for a currency have shown large instability over a short time period, then the market is highly volatile. If currencies are relatively stable, then volatility is low. In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators.

So long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.

On the other hand, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 1.2245.

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.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $1000 nhiều hơn!
    Trong Tháng 02 chúng tôi xổ $1000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

Technical analysis on GBPUSD for February 7th, 2023.

GBPUSD is in a short-term bearish trend. Price is trading at 1.1980 making new lower lows and lower highs, approaching our short-term target of 1.19-1.18 after it broke below

Alexandros Yfantis 15:30 2023-02-07 UTC+2

Short-term triangle pattern in Gold.

Gold price is trading around $1,870. Short-term trend is bearish after the recent break down from last week. Price is now forming a triangle pattern clearly visible

Alexandros Yfantis 15:16 2023-02-07 UTC+2

Trading signal for USD/JPY on February 7-8, 2023: sell below 132.40 (21 SMA- GAP)

Our trading plan for the next few hours is to sell below 132.40, with targets at 131.25 and 130.40 (200 EMA). The eagle indicator is giving a negative signal which

Dimitrios Zappas 14:16 2023-02-07 UTC+2

Trading signal for Gold (XAU/USD) on February 7-8, 2023: buy on breakout above $1,875 (6/8 Murray- symmetrical triangle)

Early in the American session, gold is trading around 1,867.25. We can see that it is trading within a symmetrical triangle pattern formed on February 3. According to the 4-hour

Dimitrios Zappas 13:59 2023-02-07 UTC+2

Forex forecast 02/07/2023 AUD/USD, USD/JPY, EUR/USD and Bitcoin from Sebastian Seliga

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

Sebastian Seliga 11:09 2023-02-07 UTC+2

GBPUSD, H4 Bearish Breakout Opportunity

Today we take a look at GBPUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups

Dean Leo 10:49 2023-02-07 UTC+2

AUDUSD Potential for Bearish Drop to intermediate support

Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price being below the Ichimoku cloud, Looking for a sell entry at 0.68455 where

Dean Leo 10:33 2023-02-07 UTC+2

ADAUSD Potential For Bearish Drop to overlap support

Looking at the H4 chart, my overall bias for ADAUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. Looking for a sell

Dean Leo 10:31 2023-02-07 UTC+2

EUR/USD and GBP/USD technical analysis on February 7, 2023

EUR/USD Higher time frames In the new weekly session, the pair continued its trajectory from the previous week. As a result, bears closed the day below the key support level

Evangelos Poulakis 09:57 2023-02-07 UTC+2

Video market update for February 07, 2023

Watch for selling opportunities on the rallies on USD/JPY

Petar Jacimovic 09:57 2023-02-07 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.