Sun, Oct 24, 2021 @ 00:53 GMT
HomeContributorsTechnical AnalysisGBPUSD Correcting From Overbought Conditions

GBPUSD Correcting From Overbought Conditions

The British pound is now starting to correct lower against the US dollar, after finding strong technical resistance above the 1.2900 level. The MACD indicator is also starting to trend lower on the lower time frames, adding validity to move lower. The GBPUSD pair still retains an intraday bullish bias while price trades above the 1.2845 level.

The GBPUSD pair is only bullish while trading above the 1.2845 level, key resistance is now found at the 1.2925 and 1.2958 levels.

If the GBPUSD pair moves below the 1.2845 level, key intraday support is found at the 1.2800 and 1.2775 levels.

OctaFXhttp://www.octafx.com/?refid=871837
Octa Markets Incorporated is a forex broker recognized worldwide. OctaFX provides forex brokerage services to its clients in over 100 countries around the world. OctaFX uses the most up-to-date technology and knowledge to make your forex trading experience incredibly convenient. Our top goal is the trust and satisfaction of each client's needs and requirements. OctaFX sets the highest service level standards and maintains them, as well as constantly developing new services and promotions.

Featured Analysis

Learn Forex Trading