GBP/USD Price Advances Resistance Line 1.1500

GBP/USD Price Prediction – October 17
It shows that the GBP/USD market advances resistance line 1.1500 in a bid to exhaust forces to the upside to find a markdown point. The present trading situation has been between 1.1367 and 1.12080 points, with an opening balance of 1.12340 to trade at 1.13576 at an average positive percentage rate of 1.62.

GBP/USD Market
Key Levels:
Resistance levels: 1.15, 1.1600, 1.1700
Support levels: 1.1200, 1.1100, 1.1000

GBP/USD – Daily Chart
The daily chart reveals the GBP/USD price advances resistance line 1.1500. A bullish candlestick is in the making against the smaller SMA. The 14-day SMA indicator is at 1.12708, underneath the 1.17804 value line of the 50-day SMA indicator. The bearish channels are below the bigger SMA trend line. The Stochastic Oscillators are facing the northbound slightly against the 80 range point at 82.13 and 89.68 range values.
Will the GBP/USD trade survive to push beyond the 1.1500 resistance level?
It may be difficult for the GBP/USD market to push beyond the 1.1500 resistance level because the value line seems to be the critical zone against getting a smooth upward run as the pairing currency advances it. At this point, buyers need not ride alongside any attempted move that price tends to make afterward to avoid a whipsaw in no time.

The downside of the technical sentiment, the GBP/USD market will have to undergo depressions below the sell signal side of the bigger SMA trend line. A 1-hour trading chart is needed to detect an early shorting entry around the 1.1500 resistance level.

In summary, It appears that the GBP/USD market operation is approaching a high-resistance trading spot that bears will have to take advantage of pushing southward soon. But, sellers need to be wary of fearful holding of price above the 1.1500 resistance level.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart showcases the currency pair price advances to the 1.1500 resistance level. The 14-day SMA trend line has managed to join the 50-day SMA trend line from beneath, envisaging trying to shift further north past it. The Stochastic Oscillators have crossed northbound at 52.75 and 69.19 range values to suggest an upward-rending move is ongoing to make completion of bullish forces that can give birth to a resumption of declines soon.


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