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GBPUSD,D1 Chart Discussion

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AmContent Jul 01 2020 at 08:30
Wednesday, July 1, 2020
GBP/USD Daily Analysis

Is this a selling opportunity?

GBP/USD formed a lower low at 1.2251, June 29, 2020, and has a robust rebound. The price is clung to the descending parallel channel around 1.2400 as I am writing this short market dissect.

MACD has formed a massive divergence in the 1H chart, which raises concerns in trend reversal or market correction.

In a technical standpoint:
If 1.2402 breaks, the pair would probably leap to test the 1.2542 resistance. In case it slips, a penetration in 1.2359 support shows the market is more determined to make a new lower low than creating a new high.
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AmContent Jun 29 2020 at 09:21
Monday June 29,2020

GBPUSD

Donward Movement Continues

GBPUSD had a weak bouncing reaction to June 22 low at 1.2332. Key resistant is way down neasr 1.2062. The downward movement is being expected to as low as 1.2200 in the following days, if the investors don't hear about optimistic news in the U.K's economy.
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AmContent Jan 27 2020 at 13:09
Cable is currently nudging higher and trying to re-take 1.3100. The pair have broken through minor resistance from the 20- and 50-day moving averages, currently at 1.3065 and 1.3087 respectively, although a close above both will be needed to underpin the next move higher. Resistance either side of 1.3150 guards the short-term target of 1.3177, last Friday’s high. This near three-week high may prove difficult to better with the BoE meeting looming on the horizon. Short-term support between 1.3050 and 1.3058.
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AmContent Jan 23 2020 at 12:29
The upside momentum in Cable could extend to the 1.3285 level, suggested Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes
“GBP/USD saw another recovery yesterday, which has eroded last weeks high and we will assume that there is scope for a deeper recovery to the 1.3285 Fibonacci retracement.”

“The market should remain underpinned by the 1.2874 uptrend and the December low at 1.2908. Failure at the 4 month uptrend would put the 200 day moving average at 1.2689 back on the plate.
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AmContent Jan 20 2020 at 10:06
GBPUSD trades either side of 1.2980 with trend resistance of the December 12 spike high at 1.3512 in control of price action. The 1.2950 to 1.2970 level has prompted buying in the past month and may see cable push higher again. Below here, the next level of support is the December 23 low at 1.2904. The current downtrend currently cuts across around 1.3040, while a cluster of recent highs and the 20- and 50-day moving averages block the path up to 1.3120. The CCI indicator suggests that the market is becoming oversold.
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AmContent Jan 17 2020 at 09:59
GBP/USD climbed to over one-week tops but lost traction post-UK macro data.
Fears of a no-deal Brexit might exert some additional pressure on the pound.
The GBP/USD pair failed to capitalize on its early uptick to over one-week tops and dropped to the lower end of its daily trading range, around the 1.3060-50 region post-UK macro data.
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AmContent Jan 15 2020 at 10:40
GBP/USD January 15th, 2019
The pair consolidates the bounce of 1.2954 by hovering above it. The bounce is likely over at cusp @1.3042.
Poor UK GDP data mixed with increased BOE dovish expectations could continue the downtrend.
From a technical standpoint, tumble would continue to lower levels with breach of @1.2945.
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AmContent Jan 16 2020 at 13:29
A close above the high end of the zone could pave the way for buyers to lead GBPUSD towards 1.3300 handle contingent on clearing the weekly resistance levels underlined on the chart (zoomed in). Further close above this level may convince more buyers to join the rally and push towards 1.3515. In that scenario, a special attention should be paid to the weekly resistance levels as some traders could join/exit the market nearby these points.
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AmContent Jan 15 2020 at 10:14
GBP/USD January 15th, 2019
The pair consolidates the bounce of 1.2954 by hovering above it. The bounce is likely over at cusp @1.3042.
Poor UK GDP data mixed with increased BOE dovish expectations could continue the downtrend.
From a technical standpoint, tumble would continue to lower levels with breach of @1.2945.
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AmContent Jan 14 2020 at 08:19
GBPUSD, January 14th, 2019

The currency pair is under Bears pressure and the next support is @1.2905.
A move above @1.3080 can indicate that the downtrend is over.
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AmContent Dec 24 2019 at 05:13
GBPUSD, December 24, 2019

The USD tumbled -90 pips on December 23 since the support didn't obstacle the bear's hustle.

The price action has reacted to the Trend Line@1. An unreliable soar to test the @1.3 area could be expected. This level has the potential to be determined as a pivot point at this stage. The market sentiment exhibits bulls slightly outweighed bears.

In a technical standpoint, level 1.2904 seems to be fragile. The new formed bullish candles don't exhibit enough competence either especially when the bears have been dropping lots of pressure in short periods since December 22 to overwhelm the buyers. So, a break below @1.2900 would pull down the USD to @1.2830 and @1.2768.