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GBPUSD Analysis: Likely to respect junior channel

Written Dukascopy Bank Team | 2018-02-14 05:09:40 GMT

The pair is currently trading in a short-term channel up. Its southern barrier is supported by the aforementioned SMAs, while the northern side—by the 200-hour SMA and the 38.20% Fibo retracement. This channel is likely to be respected during the first part of the day and maybe even further if the US CPI data do not introduce extensive volatility in the market. 

The ultimate daily high should be the monthly PP at 1.40, while the nearest support is the distant weekly and monthly S1s at the 1.37 mark.

GBPUSD

 

Interested in GBPUSD technicals? Check out the key levels

    1. R3 1.4026
    2. R2 1.3976
    3. R1 1.3931
  1. PP 1.3881
    1. S1 1.3836
    2. S2 1.3786
    3. S3 1.3741

 

Author

Dukascopy Bank Team
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