British Pound Price Prediction – May 25
The trade valuation of British Pound has managed to strive more northwardly against the market worth of the US Dollar. The base currency price now hovers closely below the level of 1.4200 at an about 0.08% increase.
GBP/USD Market
Key Levels:
Resistance levels: 1.4300, 1.4400, 1.4500
Support levels: 1.3900, 1.3800, 1.3600
GBP/USD – Daily Chart
It is now depicted on the GBP/USD daily chart that the currency pair market has again reached a high difficult resistance level as seen around February 24th day’s trading session. Meanwhile, the current GBP/USD situation of trading seems to be a bit different by featuring a line of higher lows around the value of 1.4200. The 14-day SMA trend-line is located over the 50-day SMA indicator as they both point towards the north direction. The Stochastic Oscillators have briefly crossed the hairs to the southbound toward range 40. That suggests that a downward move is in the offing.
GBP/USD market upswing, will it swing past the 1.4200 level?
A sudden bullish candlestick devoid of reversal outlook needs to emerge against the key 1.4200 resistance point so as to allow more upsides in the GBP/USD trade operations. A downward move in a bid of finding support around the smaller SMA may technically bring about a correction in the currency market. Therefore, buyers should be wary of their entry during the period that that assumed scenario could play out afterward.
The present market level of 1.4200 has to hold strong by GBP/USD sellers. But, currently, there is a less-active price action ongoing in the currency trade. As a result, traders are enjoined to be on the lookout for when there will be presence of volatility to be able to get a reliable direction. The higher resistance level of 1.4400 could be a better of the presi
in summary, as the GBP/USD price now hovers nearing the high point of 1.4200, traders should take the cognizance of the point by being on the lookout for a volatile move to occur to be able to know the clearer picture of market’s next definite direction.
GBP/USD 4-hour Chart
The GBP/USD 4-hour chart depicts that between May 18 and 21, the market level of 1.4200 had been touched and resisted. Today’s session has seemingly seen the same trading situation. The bullish trend-line drew below the 14-day SMA trend-line. And, the 50-day SMA indicator is situated below them. The Stochastic Oscillators have moved up from range 20 to close the hairs within the ranges of 40 and 80. That signifies that a fall-off is somewhat imminent.
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.
Leave a Reply