GBP/USD Trade Activity Features at 1.3000

GBP/USD Price Prediction – April 19
A critical baseline has been overly observed at the trading line at 1.3000 as the currency pair trade activity features around it. The business operation records a minimal negative percentage of 0.03 as price trades between 1.3018 and 1.2989.

GBP/USD Market
Key Levels:
Resistance levels: 1.3100, 1.3200, 1.3300
Support levels: 1.2900, 1.2800, 1.2700

GBP/USD – Daily Chart
The GBP/USD daily chart reveals the currency-pair trade activity features at 1.3000. In the long-term run, it would be technically ideal to wait for the market’s reactions to determine a definite direction out of its current trading outlook in the descending triangular trading formation. The 14-day SMA trend line is alongside the bearish trend line drawn underneath the 50-day SMA trend line. The Stochastic Oscillators have crossed the lines southbound closer to the range at 40. It indicates the appearance of a declining force in the coin pair transactions.

Will there be more downs beyond the 1.3000 as the GBP/USD trade activity features around it?
A sudden breakdown at the 1.3000 will probably give room for more downs as the GBP/USD trade features frequently around it. In the event of that presumption playing out, bulls will have to wait for a re-occurrence of a bullish candlestick at a lower trading spot before considering a buying order afterward.

On the downside of the technical analysis, the GBP/USD market bears have to continue to hold their positions firm underneath the trading resistant barrier of 1.3100. A pull-up away from the 1.3000 support baseline may allow the price to head northward for a retest of the resistance line before returning toward moving past the value-line latterly mentioned.

Summarily, the GBP/USD market operations may stay within the current descending triangular pattern. Therefore, traders needed to focus on 1.3100 and 1.3000 trading spots.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart reveals the currency-pair trade activity features at 1.3000. The 50-day SMA indicator is above the 14-day SMA indicator. The horizontal line drew at 1.3000, showcasing it as the critical level to seeing more downs. The Stochastic Oscillators are in the oversold region, attempting to resume moving in a consolidation. Traders intending to go for shorting orders at this point are to be wary of such decisions. It would be ideally technical to shelve the opinion for a while to avoid unnecessary traps by bears.


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