GBPUSD rebounds bullishly – Analysis - 01-11-2018

Economies.com
2018-11-01 04:51AM UTC

The GBPUSD pair bounced upwards strongly yesterday after finding solid support at 1.2700, to breach 1.2775 level and opens the way to achieve more intraday gains to test the key resistance levels between 1.2920 and 1.2962.

 

Therefore, the bullish bias will be suggested for today, noting that we will be waiting for bearish rebound to resume the main bearish trend after touching the above mentioned targets, taking into consideration that breaking 1.2775 will stop the current rise and push the price to decline again.

 

Expected trading range for today is between 1.2775 support and 1.2962 resistance.

 

Expected trend for today: Bullish temporarily

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

EUR USD Analysis

Forex

End of day EURUSD price forecast update - 28-03-2024
2024-03-28 17:42PM UTC
The EURUSD price provided additional negative trades to reach the thresholds of the first waited ...
NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...