GBP/USD Price Analysis: The next downside target is seen at 1.2540

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

The GBP/USD pair recovers some lost ground and currently trades around 1.2580 on Wednesday during the early European session.

GBP/USD trades on a stronger note near 1.2580 on the weaker USD. The pair keeps the bearish vibe below the key EMA; RSI indicator holds in bearish territory. The immediate resistance level will emerge at 1.2617; 1.2540 acts as an initial support level. The decline of the USD Index and the dismal market mood in the UK economy act as a tailwind for the major pair. Later on Wednesday, the ADP Employment Change and the ISM Services PMI will be due.

2660 region, portraying the 100-period EMA and the upper boundary of the Bollinger Band. A break above the latter will pave the way to the 1.2700 psychological level. Further north, the next upside target is located at a high of March 18 at 1.2746. On the downside, a low of April 1 at 1.2540 acts as an initial support level for the major pair. The additional downside filter to watch is a low of April 1 at 1.2540. A breach of the lower limit of the Bollinger Band at 1.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GBP/USD Price Analysis: Clings near 1.2720 followed by the barrier at 14-day EMAGBP/USD trims intraday losses and attempts to snap its losing streak on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GBP/USD Price Analysis: Subdued around 1.2700, with bears in charge pre-FOMC decisionThe Pound Sterling drops some 0.12% against the US Dollar in early trading during the North American session as traders brace for the Federal Reserve’s monetary policy.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GBP/USD Price Analysis: Holds position below the major level of 1.2650GBP/USD attempts to continue gaining ground, advancing to near 1.2640 during the Asian trading hours on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GBP/USD Price Analysis: The next downside target is located at the 1.2600–1.2605 regionThe GBP/USD pair remains on the defensive around 1.2630 on Thursday during the early European trading hours.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GBP/USD Price Analysis: The first downside target is seen at the 1.2600–1.2605 zoneThe GBP/USD pair trades on a weaker note around 1.2620 during the early European session on Friday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

GBP/USD Price Analysis: The initial support level is located at 1.2610The GBP/USD pair holds positive ground near 1.2628, snapping the two-day losing streak on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »