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GBP/USD Market Loses Some Pips

Johnathon Fox
09/14/2022 | UPDATED ON: 09/14/2022

GBP/USD Price Prediction – September 13
The Great Britain Pound tried to surge higher against the United States of America’s Dollar but tended to lose some pips after reaching a resistance line around 1.1700 recently. As of the time of writing, the price is around the1.52 percent negative, between the high and low of 1.1738 and 1.1500.

GBP/USD Market
Key Levels:
Resistance levels: 1.1700, 1.1800, 1.1900
Support levels: 1.1400, 1.1300, 1.1200

GBP/USD – Daily Chart
The GBP/USD daily chart showcases the currency pair market losing some pips shortly after it tested the smaller SMA trend line. The 50-day SMA indicator is at 1.21541 above the 1.17386 trending point of the 50-day SMA indicator. The bearish channel trend lines drew to mark the path the market has been somewhat keeping around the lowly-scaled SMA. The Stochastic Oscillators have crossed northbound to reach 60.42 and 78.06 range values.
Will the AUD/USD market lose more pips in the subsequent sessions?
Currently, a bearish signal is playing out below the trend line of the 14-day SMA to probably create a stem of selling wall just as it has established that the currency pair market has begun to lose some pips. Buyers need to hold back the intention of launching further long positions at the moment.

On the downside of the technical analytics, the GBP/USD market bears may now ride alongside the declining moves as currently featured. However, they need to be wary of an unprecedented rebound that can surface breach the resistance point given around the 14-day SMA at the 1.17386 afterward.

In summary, it shows that sellers can ride profitably for a while, provided the GBP/USD market bulls will remain inactive for some time below the sell signal side of the smaller SMA tool.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart portrays the fiat currency pair market losing some pips after it got its energy to push high exhausted at the reach of resistance a bit above the bigger-SMA trend line. The 14-day SMA indicator is at 1.15942, underneath the 50-day SMA indicator, which is at the 1.16660 value line. The Stochastic Oscillators have crossed southbound into the oversold region, positioning at 24.35 and 0.00 range points. That signifies the forces to the downside are gradually ruining into a reduction.


Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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