• 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 Struggles Below the 1.2600 Ceiling

Johnathon Fox
11/27/2024 | UPDATED ON: 11/27/2024

The US dollar has been able to maintain its strong stance ever since the change in US leadership. This has kept the GBPUSD pair under bearish pressure. Meanwhile, the Pound side of the market seems a bit tranquil, even as speculations surrounding expansionary policies are expected to rekindle inflation, causing the Fed to cut interest rates slowly. This seems sufficient enough to keep the pair heading further south.

Key Price Levels:

Resistance Levels: 1.2600, 1.2700, 1.2800

Support Levels: 1.2500, 1.2400, 1.2300

GBPUSD Struggles Below the 1.2600 Ceiling

GBPUSD Seems Under Renewed Bearish Pressure

The GBPUSD daily market fell below the 1.2600 level three sessions ago. The market has made attempts to rebound upwards, but it seems that the 1.2600 price level has formed a strong resistance level. Subsequently, the market has made a smooth rebound off that price level, even until the ongoing session. The last price candle portrays that market forces are in a face-off – given the position and appearance of its body.

Price action has fallen below all the Moving Average (MA) lines, with the 20- and 200-day MA lines delivering a downward crossover above price activity. Likewise, the 50- and 100-day MA lines can be seen approaching another crossover above price movements. The Stochastic Relative Strength Index (RSI) lines have performed a bullish crossover below the 20 mark. The mentioned level is still in the oversold region, and the crossover may not impact price movement.

GBPUSD Struggles Below the 1.2600 Ceiling

GBPUSD Market Is Yielding to Headwinds

The GBPUSD 4-hour price chart has revealed that price action has rebounded upwards over the past three sessions. However, the previous session experienced a strong downward contraction, which brought the market back below the 1.2600 threshold level. Eventually, the subsequent (ongoing) session can be seen to have yielded further and has returned the market below all the MA lines on the chart.

The Stochastic RSI lines can be seen to have punched their way through the 80 mark of the indicator. However, a more careful look at the leading line of the indicator shows that the line of the indicator is slightly curved, hinting that a bearish crossover may result soon. Combining this with the fact that price action is now below all the MA lines, it appears that the market may journey toward 1.2500 as support.

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) Trade Slows Action, Fine-tuning Basis
Next Post: EigenLayer (EIGENUSD) Price Remains Pressured above the Supply Value »

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