GBP USD TECHNICAL ANALYSIS
The dollar slumped as markets expressed disapproval of the White House on the U.S.-China trade talks and a U.S. decision to hit French and Brazil exports with new tariffs
this stage enabled the Pound-to-Dollar rate to again test a key resistance 1.30 level on the chart- what next: voting intentions ahead of the December 12 general election in UK ……..
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GBP USD Technical analysis
The long-term chart is showing to us that As long as GBP USD will stay below 1.3660+_ Key support the trend is down Below 1.2640 price area, it could bring larger downtrend resumption, while we have first to meet 1.3180-1.3240. On the downside, a break of 1.2840 support will indicate short-term topping. If it will fail to stay above the level, it will be turned back to the downside for 1.2770 support current and below
Short-term chart as a long as GBP USD will trade above 1.3180-1.3240 the next resistance will stay on 1.3320-1.3460+_, those are the areas for topping correction after the long decline from 1.4360 -However a daily break of 1.3660 would bring stronger rebound to 61.8% retrenchment at 1.3920+_, I believe that the pound will not succeed in breaching the 1.3660 level _ and the probability of further declines is higher than the breach of resistance.
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| GBP USD Technical analysis |
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