{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpusd-corrects-off-a-strong-resistance-at-the-1-2836\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpusd-corrects-off-a-strong-resistance-at-the-1-2836\/","headline":"GBPUSD Corrects off a Strong Resistance at the 1.2836","name":"GBPUSD Corrects off a Strong Resistance at the 1.2836","description":"GBPUSD price action recently rallied towards the 1.2800 price mark, and it broke through it. However, not long afterward, the tailwind was exhausted as price action tested the 1.2836 price mark. At this point, the market seems headed toward support levels at the 1.2700 price mark. Major Price Levels: Resistance Levels: 0.6880, 0.6920, and 0.6960 […]","datePublished":"2023-06-20","dateModified":"2023-06-20","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"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.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/10\/pound.webp","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/10\/pound.webp","height":340,"width":510},"url":"https:\/\/forexschoolonline.com\/gbpusd-corrects-off-a-strong-resistance-at-the-1-2836\/","about":["Article","FX Technical Analysis","GBPUSD","Technical Analysis"],"wordCount":290,"keywords":["Forex","gbpusd","trading"],"articleBody":"GBPUSD price action recently rallied towards the 1.2800 price mark, and it broke through it. However, not long afterward, the tailwind was exhausted as price action tested the 1.2836 price mark. At this point, the market seems headed toward support levels at the 1.2700 price mark.Major Price Levels:Resistance Levels: 0.6880, 0.6920, and 0.6960Support Levels: 0.6851, 0.6800, and 0.6750GBPUSD May Retrace the 1,2700 Support LevelAfter the GBPUSD price action hit resistance at 1.2836, bears seem to have seized control of the market. Seeing that bulls are out of steam, bears appear prepared to drive prices back toward the 1.2700 level. The last price candle here shows that short traders are formidable enough to bring about a retreat toward the 1.2700 price mark. The Moving Average Convergence Divergence (MACD) indicator continues to indicate that the headwind is gaining strength. The curves of this indicator can already be seen changing direction to a sideways path. Consequently, this confirms that we may experience further price declines in this market.GBPUSD Bears Are Showing DominanceAs price action in the GBPUSD market continues to fall back to lower support, indications from technical indicators suggest that short traders are gaining more confidence. Another session has started in the 4-hour market, with bears taking the lead. Consequently, this has placed the current price of the pair below the crossover between the 9- and 21-day MA curves. Such a development suggests that this market has taken on a more bearish tone. Furthermore, the MACD lines continue to plunge lower towards 0.00, while the bars of this indicator keep growing red and taller southward. Therefore, traders in this market should prepare to see the price retrace the 1.2700 mark at least.Do you want to take your trading to the next level? Join the best platform for that here."}