- Analytics
- News and Tools
- Market News
- GBP/USD: Gains to gather traction on a break above key resistance at 1.2160 – OCBC
GBP/USD: Gains to gather traction on a break above key resistance at 1.2160 – OCBC
GBP/USD erased a large portion of gains it recorded on Tuesday but managed to hold comfortably above 1.2000. Economists at OCBC Bank note that the pair needs to clear the 1.2160 to enjoy further gains.
Bullish divergence?
“Bearish momentum on daily chart faded while RSI rose. Potential bullish divergence not ruled out.”
“Key resistance at 1.2160 levels (21, 50-DMAs). A break above this can see GBP gains gather traction but failure to clear could see GBP revert to recent range.”
“Support at 1.1930/50 (23.6% fibo retracement of September low to December high, 100, 200-DMAs).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
