empty
 
 
29.08.2023 09:08 AM
Technical Analysis of GBP/USD for August 29, 2023

Technical Market Outlook:

The GBP/USD pair has bounced from the recent lows located at the level of 1.2547mand is heading up to test the technical resistance located at 1.2655. The weak and negative momentum on H4 time frame chart bounced from the extremely oversold market conditions as well, so the market is ready for an up move. Only a strong reversal and a breakout back above the level of 1.2655 would change the short-term bearish outlook, otherwise the price might just bounce up and down in a whipsaw mode for some time. Reversal confirmation comes with the violation of 50 and 100 MA levels.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.26622

WR2 - 1.26305

WR1 - 1.26199

Weekly Pivot - 1.25988

WS1 - 1.25882

WS2 - 1.25671

WS3 - 1.25354

Trading Outlook:

The bulls keep continuing the up trend towards the key technical resistance located at the level of 1.3163 and a breakout above this level is needed to extend the up trend towards the last Weekly swing high seen at 1.4248. Only a sustained breakout blow the technical support seen at the level of 1.1775 would change the outlook to bearish.

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