The volatility of the GBP or USD currency pair trades above the moving average
The pound sterling has partially regained this position. The sterling should continue to strengthen as recent fundamentals support the dollar‘s decline. The volatility of the GBP/USD currency pair is very low as it is a public holiday in the UK today.
Over time, the GBP/USD price trades above the moving average. Local trends are on the rise. The MACD is moving positive, but there is a difference indicating a higher timeframe for the count. In these market conditions, it is better to find a resistance trade where the seller takes the initiative. A long position can only consider short targets during the day.
The sterling/dollar pair was high in August, holding resistance at 1.3780. At the same time, the following technical support is around 1.3735.
If the pair breaks the August high and resistance at 1.3780, it can offer resistance at 1.3800. 1.3800 points above 1.3800 online can lower the price.
GBP/USD’s estimated decline is likely to find support at the 55 and 100-hour simple moving averages around 1.3735. Below those two levels, the stock could find additional help at 1.3720, the simple weekly support.
After the votes rose nearly 1% last week, the votes lost momentum on Monday and encountered strong resistance at the bottom of a thick day cloud (1.3760).
With stock prices hovering near the highs of a multi-day rally, there is no way for sterling to break higher at any point.
The global threat posed by Delta has re-raised concerns about the recovery of the UK economy, and traders are waiting for the Federation to hope to launch a deal to limit the pound’s rally shortly. See August US employment data for a new signal.
The daily analysis is busy exacerbating weak sentiment, but the short-term bias should continue the positive momentum as activity remains above the 1.3747 Fibonacci level (1.3982/1.3603 38.2%).
After falling below the 10-day moving average (1.3716), I expect I will try to see the first signs of whether it will continue at the Friday lows (1.3678).
The daily cloud floor break generates a positive signal, but the bull market must stay above 1.3800 (200DMA) to strengthen control.
GBP / USD is trading at 1.3769. The device moves over the current Ichimoku cloud. The market may indicate that the price could check the cloud surface at 1.3725 and then move towards 1.3925. Another sign of even more substantial support is the play from the bottom of the channel. However, if the price breaks the bearish line and stabilizes below 1.3650, the bullish scenario may not work. In this case, the currency pair could go as high as 1.3566.
Resolution: 1.3760; 1.3780; 1.3800; 1.3837
Liters: 1.3733; 1.3715; 1.3654; 1.3606