• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

GBPUSD Price Takes off Towards the 1.2800 Mark

Johnathon Fox
08/22/2023 | UPDATED ON: 08/22/2023

Price action in the GBPUSD daily market remained mostly between the 1.2700 price mark and the 1.2800 price mark. However, since price activity fell below 1.2700 about ten trading sessions ago, price action seems to have picked a slightly upside path. Today’s trading session seems to have further brightened the hopes of a more vigorous upside retracement in this market.

Major Price Levels:
Resistance Levels: 1.2743, 1.2800, and 1.2850
Support Levels: 1.2700, 1.2650, and 1.2600

GBPUSD Price Takes off Towards the 1.2800 Mark

GBPUSD’s Upside Impetus Is Getting Stronger

On the GBPUSD daily market, price action has gradually retaken support above the 21-day Smooth Moving Average (SMA) curve. Meanwhile, the ongoing session has brought stronger upside hope to trading in this market. This can be observed as the price candle for the ongoing session has appeared above the 9-day SMA line as well.

Consequently, trading activity for this pair is now occurring above the 9- and 21-day SMA lines. At the same time, the MACD curves are now steadily rising toward the equilibrium level from below it. The bars of this indicator are also green in appearance while they continue to grow taller, indicating that price action is fast gaining upside momentum.

GBPUSD Price Takes off Towards the 1.2800 Mark

The GBPUSD Bulls Seem Determined to Break the 1.2800 Resistance

The GBPUSD 4-hour market has revealed how resilient bulls are in striving to extend the ongoing trend. For about five sessions, price action has remained above the 9- and 21-day Smooth Moving Average (SMA) curves. However, the ongoing session seems to have introduced a minimal downward correction in price. Nevertheless, the bars of the MACD remain solid green, while its lines continue to trend upwards above equilibrium.

Technically, this seems to indicate that despite the minimal downward correction of prices, upside momentum seems undiminished. Therefore, this suggests that price action will continue toward the 1.2800 resistance level.Do you want to take your trading to the next level? Join the best platform for that here.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

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.

View all posts by Johnathon Fox →
Previous Post: « Tamadoge (TAMA/USD) Price Steps Down, Recouping Hiking
Next Post: SPONGEUSDT Price: Bulls Are Currently Defending Support Level of $0.000093 »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

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.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US