{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpusd-experiences-a-moderate-upward-rebound\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpusd-experiences-a-moderate-upward-rebound\/","headline":"GBPUSD Experiences a Moderate Upward Rebound","name":"GBPUSD Experiences a Moderate Upward Rebound","description":"The GBPUSD market has experienced a moderate upward rebound following an extended downward correction. This appears to be due to the US dollar losing some momentum following hawkish comments from Fed officials, which hinted at a potential 25 basis point rate cut in the next month (December). Let’s delve into the technical details below. Key […]","datePublished":"2024-11-19","dateModified":"2024-11-19","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\/2021\/07\/Pound-up.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/07\/Pound-up.jpg","height":640,"width":960},"url":"https:\/\/forexschoolonline.com\/gbpusd-experiences-a-moderate-upward-rebound\/","about":["FX Technical Analysis","GBP\/USD","Technical Analysis"],"wordCount":326,"keywords":["Forex","gbpusd","Technical Analysis"],"articleBody":"The GBPUSD market has experienced a moderate upward rebound following an extended downward correction. This appears to be due to the US dollar losing some momentum following hawkish comments from Fed officials, which hinted at a potential 25 basis point rate cut in the next month (December). Let’s delve into the technical details below.Key Price Levels:Resistance Levels: 1.2700, 1.2800, 1.2900Support Levels: 1.2600, 1.2500, 1.2400GBPUSD Capitalizes on Dollar WeaknessThe GBPUSD market has been falling towards lower price levels for the past six sessions, as US dollar bulls dominated the market. However, the current session has seen a moderate upward retracement from the psychological support level of 1.2600.Despite the rebound, price action remains significantly below the Moving Average (MA) lines. Technically, this keeps the market under bearish pressure. The Stochastic Relative Strength Index lines have delivered a crossover in the oversold region. However, the subdued overall look of this market, with the lines of this indicator pointing sideways, confirms the impression that the market is still under pressure and may continue the downward correction.GBPUSD Upside Retracement Stays OverwhelmedMoving to the GBPUSD 4-hour market, it’s clear that an upward rebound has occurred. Nevertheless, the upward movement of price remains below all the MA lines. The latest price candle on the chart appears to have printed a moderate upside correction. Also, the mentioned price candle can be seen still having no upper shadow. This seems to set an apparent tone that downward pressure is not mounting.However, price action remains below all the MA lines and is still vulnerable to downward forces. Meanwhile, the Stochastic RSI lines are still projected upward and rising into the overbought region. While the short-term outlook of the market suggests that additional gains may be recorded, traders should wait until the market surpasses the 20-day MA curve before making bullish bets towards the 1.2800 price mark.Do you want to take your trading to the next level? Join the best platform for that here.\u00a0"}