GBP/USD Trade Moves in Ranges at 1.2300

GBP/USD Price Prediction – June 28
The current trading outlook of the GBP/USD market portends the pairing currency trade moves in ranges around 1.2300. Over the last several hours, the price has been around 1.2261 at a minimal percentage rate of 0.03 negative.

GBP/USD Market
Key Levels:
Resistance levels: 1.2400, 1.2500, 1.2600
Support levels: 1.2100, 1.2000, 1.1900

GBP/USD – Daily Chart
The GBP/USD daily chart showcases the currency pair trade moves in ranges around 1.2300. The bearish trend line drew alongside the trend line of the SMA. The 14-day SMA indicator is underneath the 50-day SMA indicator. The horizontal line is drawn at the 1.2000 level. The Stochastic Oscillators are near below the range of 80, feebly pointing to the north side. The current formation pattern of candlesticks shows a line of rejections.
Will the GBP/USD market feature more highs from the current trading point?
It may be taking a while before the GBP/USD market experience more highs from its current trading point as it observed that the currency pair trade moves in ranges at 1.2300. Presently, it is un-technically ideal to go for longing position orders until a while.

On the downside of the technical analysis, selling pressures have been gathering around the 14-day SMA trend line. Short-position takers are alert, while more desirable forces tend to occur to weigh down the rice action before launching an order. Sell orders can be, provided proper money management is applied.

In summary, the GBP/USD market may pause for some time around the trend line of the 14-day SMA. Variant rejection signals around the trading smaller SMA suggest bulls risk the stance of losing back to the downside in no time.
GBP/USD 4-hour Chart
The GBP/USD 4-hour chart showcases the currency pair market moves around 1.2300. The 14-day SMA trading indicator is at 1.2266 beneath the location value line of the 50-day SMA indicator is at the 1.2309 approximately. The Stochastic oscillators have moved southbound to touch the range of 20. That indicates that a falling force is imminent. However, the situation lacks the ideal volatility in either of the two major directions.


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