GBP/USD Price Analysis: Cable retreats as buyers struggle to clear 1.2700
16.05.2024, 14:41

GBP/USD Price Analysis: Cable retreats as buyers struggle to clear 1.2700

  • GBP/USD pullbacks from weekly highs, down 0.25%, after testing 1.2700.
  • Momentum remains bullish, with potential to test 1.2803 and YTD high at 1.2893.
  • Further retracement could challenge support at 1.2634/31 and 50-DMA at 1.2594.

The Pound Sterling erased Wednesday’s gains against the US Dollar as investors pushed the major to new weekly highs on the disinflation evolution in the United States (US). Although investors are pricing 38 basis points rate cuts by the Federal Reserve toward the end of the year, the Greenback is staging a comeback. The GBP/USD trades at 1.2654, down 0.25%.

GBP/USD Price Analysis: Technical outlook

The GBP/USD retreated from weekly highs after briefly testing 1.2700 as buyers failed to decisively crack that level, followed by the April 9 high of 1.2709. Despite that, the uptrend remains intact, with buyers taking a respite.

Momentum, as depicted by the Relative Strength Index (RSI), suggests that bulls are in charge, which could lead to further gains.

If buyers manage to reclaim 1.2709, this could potentially open the door for testing 1.2803, the March 21 high, and even the year-to-date (YTD) high of 1.2893.

On the other hand, a continuation of the retracement witnessed on Thursday could set the scenario to challenge the confluence of the May 3 high and the 100-day moving average (DMA) at around 1.2634/31 before diving toward the 50-DMA at 1.2594.

GBP/USD Price Action – Daily Chart

GBP/USD

Overview
Today last price 1.2661
Today Daily Change -0.0025
Today Daily Change % -0.20
Today daily open 1.2686
 
Trends
Daily SMA20 1.251
Daily SMA50 1.2593
Daily SMA100 1.2633
Daily SMA200 1.2541
 
Levels
Previous Daily High 1.2687
Previous Daily Low 1.2584
Previous Weekly High 1.2594
Previous Weekly Low 1.2446
Previous Monthly High 1.2709
Previous Monthly Low 1.23
Daily Fibonacci 38.2% 1.2647
Daily Fibonacci 61.8% 1.2623
Daily Pivot Point S1 1.2617
Daily Pivot Point S2 1.2549
Daily Pivot Point S3 1.2514
Daily Pivot Point R1 1.272
Daily Pivot Point R2 1.2755
Daily Pivot Point R3 1.2823

 

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

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.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik