GBP/USD Market Operation Resumes a Downward Trending Motion at 1.2000

GBP/USD Price Prediction – July 12
It showcases that the GBP/USD market operation resumes a downward trending motion at 1.2000 as the pairing coins trade around the 1.1826 value line. The percentage rate pace that the market keeps is at 0.51 negative.

GBP/USD Market
Key Levels:
Resistance levels: 1.2000, 1.2100, 1.2200
Support levels: 1.1700, 1.1600, 1.1500

GBP/USD – Daily Chart
The GBP/USD daily chart reveals the currency pair market operation resumes a downward trending motion at 1.2000. The 14-day SMA indicator is underneath the 50-day SMA indicator. The lower bearish trend line drew southward alongside a smaller SMA. The lower bearish trend line; suggests the price may be declining toward securing a maximal lower point around the 1.1600 level or thereabout. The Stochastic Oscillators have crossed southbound from the range of 40, pointing down closely over the 20 range.
What is the dominating trending force direction in the GBP/USD market?
Quite over some time, it is evident that the GBP/USD trade activities have been running within definite bearish channels. And the dominating trending force direction in the pairing currencies tends to be bearish as the price resumes a downward trending motion at 1.2000. Traders who intend to go for a buying order position will have to exercise caution at this time for a while.

On the downside of the technical analysis, the GBP/USD bears have to consolidate their presence in the market underneath the 1.2000 resistance level for a long-term run to gain grand at the expense of bulls’ weaknesses to push against the declining force. A suddenly fearful rebounding move against the value line will amount to letting long-position takers surge in pursuance to reach a resistance around the 1.2165 afterward.

In summary, the GBP/USD market appears to run more depressively underneath the 1.2165 resistance level at a later trading session, down to a lower-trading support level at 1.1600.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart showcases the currency pair market resumes a downward trending motion at 1.2000 after a long line of rallying motion. The 14-day SMA trend line is underneath the 50-day SMA trend line. The Stochastic Oscillators are in the oversold region. It is that bears will still have a hand over bulls. But, presently, short-position takers should exercise patience toward letting the trade get a new formation pattern, suggesting an overbought reading status after a while.


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