empty
 
 

Forex Analysis & Reviews: Technical Analysis of GBP/USD for December 9, 2022
time 09.12.2022 11:01 AM
time Relevance up to, 10.12.2022 11:01 AM

Technical Market Outlook:

The GBP/USD pair has been seen bouncing up from the technical support located at 1.2106 and is moving closer to the swing high located at 1.2343. The momentum remains strong and positive which supports the short-term bullish outlook for GBP. The nearest technical support is still seen at 1.2106, so in a case of an unexpected breakout lower, the next target for bears is seen at 1.1897 (30th November low). Also, please notice the Bearish Divergence between the price and the momentum indicator that might have an impact on the next bearish movement.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.24283

WR2 - 1.23713

WR1 - 1.23415

Weekly Pivot - 1.23143

WS1 - 1.22845

WS2 - 1.22573

WS3 - 1.22003

Trading Outlook:

The bulls are temporary in control of the market and the 50% Fibonacci retracement of the last big wave down located at 1.2293 had been tested, so a down trend resumption is possible. On the other hand, the level of 1.0351 has not been tested since 1985, so the down trend is strong. In order to terminate the down trend, bulls need to close the weekly candle above the level of 1.2275 (swing high from August 10th).

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

Forex forecast 02/01/2023 EUR/USD, USDX, SP500 and Gold from Sebastian Seliga

Let's take a look at the technical picture of EUR/USD, USDX, SP500 and Gold ahead of FED interest rate decision scheduled for release at 8:00 PM tonight

Sebastian Seliga 09:51 2023-02-01 UTC+2

Video market update for February 01, 2023

Watch for buying opportunities on the Gold

Petar Jacimovic 09:36 2023-02-01 UTC+2

Analysis of Gold for February 01,.2023 - Upside objectives has been reached

Technical analysis: Gold has been trading upside as I expected and the price has reached my two objectives at $1.9112 and $1.918. Trading recommendation: Due to the strong upside pressure

Petar Jacimovic 09:20 2023-02-01 UTC+2

AUDUSD Potential for Bearish Drop to recent swing low

Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud, Looking for a buy entry at 0.70295 where

Dean Leo 09:17 2023-02-01 UTC+2

UNIUSD Potential For Bullish Rise to previous swing high

Looking at the H4 chart, my overall bias for UNIUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for an immediate

Dean Leo 09:16 2023-02-01 UTC+2

EUR/USD analysis for February 01, 2023 - Potential for the upside continuation

Technical analysis: EUR/USD has been trading upside as I expected and the price did breakout of the downside Pitchfork channel, which is good sign for the further rally. Trading recommendation

Petar Jacimovic 09:11 2023-02-01 UTC+2

Indicator analysis: Daily review of GBP/USD on February 1, 2023

The pound-dollar pair may move upward from the level of 1.2312 (closing of yesterday's daily candle) to 1.2364, the 50% pullback level (yellow dotted line). In the case of testing

Stefan Doll 08:58 2023-02-01 UTC+2

Indicator analysis: Daily review of EUR/USD on February 1, 2023

The euro-dollar pair may move upward from the level of 1.0862 (closing of yesterday's daily candle) to 1.0930, the historical resistance level (blue dotted line). Upon reaching this level

Stefan Doll 08:48 2023-02-01 UTC+2

Technical Analysis of GBP/USD for February 1, 2023

Technical Market Outlook: The GBP/USD pair bounce was capped at 1.2447 and since then the market has been moving in a trading range below the local trend line. The level

Sebastian Seliga 08:37 2023-02-01 UTC+2

Technical Analysis of EUR/USD for February 1, 2023

Technical Market Outlook: The bulls on EUR/USD pair had missed 16 pips the 50% Fibonacci retracement level (1.0945) of the last big wave down. The bulls are still trying

Sebastian Seliga 08:37 2023-02-01 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.