Sun, Aug 01, 2021 @ 10:37 GMT
HomeContributorsTechnical AnalysisGBPUSD Intraday Bearish Below 1.3992 Level

GBPUSD Intraday Bearish Below 1.3992 Level

The British pound has started to recover marginally higher against the U.S dollar, after finding strong technical support from the 1.3917 level in early Tuesday trading. The GBPUSD pair currently trades around the 1.3946 level, as short-term MACD and Stochastic indicators recover from extreme oversold conditions. Sterling buyers may attempt to push price-action towards the 1.3992 level, while further losses below the 1.3917 level should encourage more pound selling.

The GBPUSD pair is bearish while trading below the 1.3992 level, further losses towards the 1.3887 and 1.3841 levels remains possible.

If the GBPUSD pair moves back above the 1.3992 resistance level, buyers may attempt to test the 1.4050 region.

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