- Analytics
- News and Tools
- Market News
- GBP/USD Price Analysis: Tuesday’s Doji need validation from 1.3360
GBP/USD Price Analysis: Tuesday’s Doji need validation from 1.3360
- GBP/USD struggles to extend corrective pullback from yearly low.
- 10-DMA, monthly resistance line challenge bullish candlestick formation.
- Bearish MACD signals keep sellers hopeful around four-month-old support line.
GBP/USD remains sidelined around 1.3300 during Wednesday’s Asian session, after refreshing the 2021 bottom the previous day.
The corrective pullback seems to take clues from Tuesday’s bullish Doji candlestick at the multi-day low. However, bearish MACD signals and convergence of the 10-DMA and one-month-old descending trend line, around 1.3360, challenge the bulls.
Should the quote rises past 1.3360, September’s low around 1.3410 and November 18 swing high close to 1.3515 will be in focus.
Alternatively, a downward sloping trend line from July, near 1.3265, will pause the GBP/USD bears before directing them to the yearly bottom of 1.3194.
During the quote’s weakness past 1.3194, October 2020 top around 1.3175 will precede the latest 2020 trough close to 1.3130 to challenge the pair sellers.
To sum up, GBP/USD remains inside the broad bearish trend despite the latest bullish candlestick formation.
GBP/USD: Daily chart
Trend: Further weakness expected
© 2000-2025. 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
