GBP/USD rises 70 pips from the lows but meets hourly resistance

17 thg 4

Hello traders, the 1.24 level has remained unbroken so far in GBP/USD. There have been quite a few bounce-ups from this level. GBP/USD rose up by 70 pips after touching the lows at 1.2407.

However, the small bullish impulse has meet with the hourly resistance at 1.2480 level and moved lower. So the immediate hurdle for the bulls is at 1.2480 level . Bulls need to break this level and consolidate above it for uptrend to continue.

At current price levels, it is better to avoid trading as the price action looks messy at the moment.

17 thg 4

Ghi chú

Traders who already bought at 1.2420 levels can hold their buys, breaking 1.2480 would lead to further uptrend

17 thg 4

Ghi chú

Trying to break above the hourly resistance at 1.2480 but so far it has not broken

17 thg 4

Ghi chú

Bulls trying to break the resistance once again. Note that in the 15 minute timeframe, price has climbed above the 100hour moving average

18 thg 4

Ghi chú

Once again at the hourly resistance, today it may break