GBP/USD Bulls Struggle While USD/CAD Regains Strength
[You must be registered and logged in to see this image.]
GBP/USD declined below the 1.2550 support zone. USD/CAD is rising and might aim for more gains above the 1.3760 resistance.
Important Takeaways for GBP/USD and USD/CAD Analysis Today
GBP/USD Technical Analysis
[You must be registered and logged in to see this image.]
On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2635 zone. The British Pound traded below the 1.2550 support to move into further a bearish zone against the US Dollar.
The pair even traded below 1.2500 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2465 level. A low was formed at 1.2467 and the pair recently attempted a recovery wave. The pair climbed above the 1.2485 level.
TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
[You must be registered and logged in to see this image.]
GBP/USD declined below the 1.2550 support zone. USD/CAD is rising and might aim for more gains above the 1.3760 resistance.
Important Takeaways for GBP/USD and USD/CAD Analysis Today
- The British Pound started a fresh decline from the 1.2635 resistance zone.
- There is a key bearish trend line forming with resistance at 1.2500 on the hourly chart of GBP/USD at FXOpen.
- USD/CAD is showing positive signs above the 1.3685 support zone.
- There is a major bullish trend line forming with support at 1.3720 on the hourly chart at FXOpen.
GBP/USD Technical Analysis
[You must be registered and logged in to see this image.]
On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2635 zone. The British Pound traded below the 1.2550 support to move into further a bearish zone against the US Dollar.
The pair even traded below 1.2500 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2465 level. A low was formed at 1.2467 and the pair recently attempted a recovery wave. The pair climbed above the 1.2485 level.
TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.