It seems that GBP/USD has reached its lowest support level. Looking to the 1M chart i can presume that GBPUSD price can stay in a high volatility flat channel for a couple months and in the long term we can expect trend reversal.
Going more deeper to 1D chart we can see that price was rejected twice by resistance and has very clear downtrend. The question is how far price can go down? In my opinion in the long run price can retest even the lowest support level of the month.
More technicals
TREND: Downtrend
Moving averages: Simple: SMA 100 : 1.4426 ; SELL
Moving averages: Exponential: EMA 100 : 1.4415 ; SELL
Moving averages: Weighted: WMA 100:1.4412 ; SELL
Dailyfx source:
Calendar:
May 16, 2:01 am EEST
GBP Rightmove House Prices (YoY) (MAY)
GBP Rightmove House Prices (YoY) (MAY)
May 17, 11:30 am EEST
GBP Consumer Price Index (MoM) (APR)
GBP Consumer Price Index (MoM) (APR)
NOTE:Information provided in this article is not a signal or recommendation for any trading/investment decisions. This is only my personal opinion and point of view. Please note that fundamental analysis is not included in this analysis. For futher details you can contact me by email kraucionisd@gmail.com.
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