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Forex pairs in this Article » GBP/USD (Chicago) - GBP/USD can’t stand bearish pressure and faces grounds below above the EMA20 still above the 1.61 front.


Valeria Bednarik, Chief analyst, the “pound holds against the greenback around last week high of 1.6133, although unable to firm up above 1.6120, strong static resistance level. The hourly chart shows 20 SMA presenting a nice bullish slope below current price while indicators stand flat right above their midlines. In the 4 hours chart price extends also above moving averages but momentum lacks strength at turns lower still in positive territory. While bullish, further technical confirmation is required to see price extending towards 1.6250 price zone.”

GBP/USD Technical Levels

Technically speaking, the pair is offered at 1.6108 and oscillates between the supports aligned at 1.61 (November 13th highs), 1.6018 (October 29th lows) ahead of 1.5951 (November 8th lows) and the resistances aligned at 1.6141 (November 15th highs), 1.62 (October 28th highs) followed by 1.6249 (October 24th highs). According to the trend index on one-hour timeframe analysis, the pair is strongly bullish and navigates above the EMA20.
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