September 22, 2023 : GBP/USD Intraday technical analysis and significant key-levels.
The GBP/USD pair has shown signs of bearish rejection just below 1.3200, initiating the recent bearish movement.
After bearish closure below the price level of 1.2800 on a H4 candlestick, it continued to fall toward 1.2500 where the depicted uptrend line comes to meet a significant Fibonacci Level.
This should be considered for Intraday traders as a valid BUY Entry with Stop Loss to be placed just below 1.2500.
This scenario was supported with the recent bullish rejection manifested in the previous week’s daily candlesticks. However, signs of hesitation are being expressed in a narrow sideway movement which may end-up with bearish continuation.
Moreover, if the pair manages to break and persist below 1.2500, further bearish decline should be expected at least towards 1.2200.
On the other hand, any bullish pullback towards 1.2650 should be considered for another SELL Entry.
Overview : The market opened below the weekly pivot point (1.2354). It continued to move downwards from the level of 1.2354 to the bottom around 1.2235. But, the trend rebounded from the bottom of 1.2253 to set around the area of 1.2290. Today, the first resistance level is seen at 1.2354 followed by 1.2390, while...
The EURUSD bulls controlled the price action around the key level of 1.0550-1.0600, leading to more bullish continuation towards 1.1000 and 1.1200. The recent bullish movement pursued towards the resistance zone around 1.1200 where lack of bullish momentum seemed to exist. On the other hand, the recent bearish pullback was facing a temporary support around...