GBPUSD Technical Analysis The pair concluded when the pound price was trading at $1.24061, as trading appears below most of the moving average intersections as shown on the chart. The MACD indicator also indicates a negative trend, which enhances the negative possibilities for the pair. Accordingly, we can consider selling in the first sessions of this week, which is the Asian session, from a decline to $1.23875, and the target area could be $1.23631. It is also recommended to choose the $1.24293 area as a stop loss point to control risks.
GBPUSD Technical Analysis: On the other hand
On the other hand, if the 1.24293 dollar buy zone is broken, the euro price may head towards the 1.24467 dollar level.
GBPUSD Technical Analysis: Resistance and support levels
- Second resistance: 1.24243
- First resistance: 1.24155
- Pivot level: 1.24072
- First support: 1.23987
- Second support: 1.23903
