Reply to thread

Message: [QUOTE="Resolve, post: 237125, member: 29339"] [B][SIZE=5]GBPUSD Technical Analysis – 01st OCT, 2024 GBPUSD – Support of Channel Is Broken[/SIZE][/B] [img]https://i.imgur.com/dX9CFFJ.png[/img] GBPUSD was unable to continue its bullish momentum and after touching a high of 1.3414 the prices started to decline against the United States Dollar today in the US Trading session. We can see that the Support of channel is broken in the 1-hourly timeframe. We have seen Moving Average bearish crossovers: AMA20 & AMA50 in the 1-hourly timeframe. The Bearish trend reversal: Moving Average 20 is visible in the 4-hourly timeframe. We can see the Bearish trend reversal: adaptative moving average 50 in the 4-hourly timeframe. The MACD indicator is back under zero in the 4-hourly timeframe. We can see Ichimoku - Bearish crossover: Tenkan & Kijun in the 4-hourly timeframe. The RSI indicator: bearish divergence is visible in the weekly timeframe. We have also detected the CCI indicator: bearish divergence in the weekly timeframe. Now we can see the formation of Bearish engulfing lines in the weekly timeframe. The Resistance of channel is broken in the monthly timeframe. GBPUSD is now trading below its 100-hour SMA and above its 200-hour SMA simple moving average. • Pound Bearish reversal seen below the 1.3414 mark. • Short-term range appears to be Bearish. • GBPUSD continues to remain above the 1.3310 levels. • Average true range ATR is indicating Less market volatility. GBPUSD is now trading below its Pivot levels of 1.3329 and is moving into a Bearish channel. The price of GBPUSD is above its Classic support levels of 1.3303 and is now moving towards its next target of 1.3310 which is a Pivot Point 2nd Support Point. We are also looking for the breach of the levels of 1.3304 which is a Price 3 Standard Deviations Support. [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

Verification

Top Bottom