EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Forex News

GBP/USD clings to strong daily gains above 1.2150

Admin by Admin
February 9, 2023
in Forex News
0
USD/IDR
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter
Event Event

GBP/USD has managed to build on earlier gains and touched its highest level in nearly a week above 1.2170.

From a technical perspective, the emergence of some buying near the very important 200-day SMA warrants some caution for bearish traders. That said, the formation of a bearish multiple-top near the 1.2450 supply zone, along with the lack of any meaningful buying, suggests that the path of least resistance for the GBP/USD pair is to the downside.

Meanwhile, the 1.2000 psychological mark is likely to act as immediate support ahead of the weekly low, around the 1.1960 area, nearing the 200 DMA.

Some follow-through selling below the latter will reaffirm the negative bias and make the GBP/USD pair turn vulnerable to accelerate the fall towards the 1.1900 round figure. The downward trajectory could get extended towards the YTD low, around the 1.1840 region touched on January 6, en route to the 100-day SMA, currently near the 1.1815-1.1810 area.

On the flip side, any meaningful rally beyond the 1.2100 mark is likely to confront stiff resistance ahead of the 1.2200 round figure. The latter coincides with the 50-day SMA, which if cleared might negate the bearish outlook and prompt some short-covering. The GBP/USD pair could then climb to the 1.2235-1.2280 barrier before aiming to reclaim the 1.2300 mark.

Related– Things are getting increasingly difficult for bulls – Commerzbank

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: ForexGBPUSD
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Dogecoin & Other Shiba Inu Cryptos Labelled as Garbage

Next Post

Whale Txs Rises 3-Month High Ahead US CPI Inflation Data

Admin

Admin

Next Post
Bitcoin's rally of 2023

Whale Txs Rises 3-Month High Ahead US CPI Inflation Data

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Axie Infinity price

Axie Infinity Price Eyes 25% Gains Ahead of the Token Unlock

April 21, 2023
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance Refocuses Efforts For Belgian Clients

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
Ethereum Retail Traders On The Run As ETH Price Struggles At $1.6K

Ethereum Retail Traders On The Run As ETH Price Struggles At $1.6K

October 2, 2023
While Bitcoin And Ethereum See Outflows, XRP And Solana Experience Inflows

While Bitcoin And Ethereum See Outflows, XRP And Solana Experience Inflows

October 2, 2023
HTX (Ex-Huobi) Hacked; Justin Sun Assures Fund Safety

HTX (Ex-Huobi) Hacked; Justin Sun Assures Fund Safety

October 2, 2023
Russian Actor Loses Over $250k To Crypto Scam

Russian Actor Loses Over $250k To Crypto Scam

October 2, 2023

Recent News

Ethereum Retail Traders On The Run As ETH Price Struggles At $1.6K

Ethereum Retail Traders On The Run As ETH Price Struggles At $1.6K

October 2, 2023
While Bitcoin And Ethereum See Outflows, XRP And Solana Experience Inflows

While Bitcoin And Ethereum See Outflows, XRP And Solana Experience Inflows

October 2, 2023
HTX (Ex-Huobi) Hacked; Justin Sun Assures Fund Safety

HTX (Ex-Huobi) Hacked; Justin Sun Assures Fund Safety

October 2, 2023
Russian Actor Loses Over $250k To Crypto Scam

Russian Actor Loses Over $250k To Crypto Scam

October 2, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Ethereum Retail Traders On The Run As ETH Price Struggles At $1.6K

Ethereum Retail Traders On The Run As ETH Price Struggles At $1.6K

October 2, 2023
While Bitcoin And Ethereum See Outflows, XRP And Solana Experience Inflows

While Bitcoin And Ethereum See Outflows, XRP And Solana Experience Inflows

October 2, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>