GBPUSD Price: Following Recouping From The Low, British Pound Anticipates Upward Momentum

Share On Facebook

The pound had a positive prior week as traders anticipate to build the scenario for buyers to step in, and now it seems likely to continue on the upside. If we can exceed the crucial level on the level at 1.3012, it is likely that the pound sterling takes off towards the level of 1.3185, and then possibly even the level of 1.3301 depending on the extent buyers push the FX pair.

©

GBPUSD Price Analysis – December 1

Key Levels
Resistance Levels: 1.3301, 1.3185, 1.3012
Support Levels: 1.2768, 1.2582, 1.1958

GBPUSD Long term Trend: Bullish

In the longer term, the increase from the level at 1.1958 is viewed as consolidation from beneath. A new advance towards resistance on the level at 1.3301 may be seen. At the moment, this may continue to be the preferred scenario as long as the level at 1.2582 resistance turned support stays intact.

However, the firm break of the level at 1.2582 may shift the target towards the level at 1.1958 low and further beneath. The outlook stays bullish, displaying an intact uptrend in the short and long-term.

GBPUSD Short term Trend: Bullish

GBPUSD remained in consolidation since hitting the level at 1.3012 in the prior week while the trend is unaltered. The initial bias may stay neutral initially for this week. The retracement may be limited by the level at 1.2768 support.

Although on the positive side, the break of the level at 1.3012 may reactivate the entire rally from the level at 1.1958. However, the break of the level at 1.2768 may advance a further plunge to the level at 1.2582 resistance turned support.

 

Source: https://learn2.trade

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20191214 20:58:28