empty
14.06.2022 09:34 AM
Technical Analysis of GBP/USD for June 14, 2022

Technical Market Outlook:

The GBP/USD pair had made a new swing low at the level of 1.2106, so the down trend is still intact. The nearest technical resistance is seen at the level of 1.2246 and the next technical support is located at 1.2072 and 1.2012. Any violation below this level would likely accelerate the sell-off towards the level of 1.2000. The weak and negative momentum supports the short-term bearish outlook for Cable, however, due to the extremely oversold market conditions on the H4 time frame chart, the bounce towards the technical resistance is on table.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.2751

WR2 - 1.2671

WR1 - 1.2451

Weekly Pivot - 1.2374

WS1 - 1.2159

WS2 - 1.2081

WS3 - 1.1851

Trading Outlook:

The price broke below the level of 1.3000 quite long time ago, so the bears enforced and confirmed their control over the market in the long term. The Cable is way below 100 and 200 WMA , so the bearish domination is clear and there is no indication of trend termination or reversal. The bulls are now trying to start the corrective cycle, which is welcome after eight weeks of the down move. The next long term target for bears is seen at the level of 1.1989. Please remember: trend is your friend.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for EUR/USD on January 21, 2025

On the day of Donald Trump's inauguration, it was announced that the new administration would not introduce "global" trade tariffs in the near future. This announcement

Laurie Bailey 04:12 2025-01-21 UTC+2

Forecast for GBP/USD on January 21, 2025

The initial attempt to push GBP/USD below 1.2186 was hindered by a speculative spike of 180 pips following Donald Trump's inauguration. However, strategically, nothing has changed. The price still

Laurie Bailey 04:12 2025-01-21 UTC+2

Forecast for AUD/USD on January 21, 2025

The Australian dollar ended yesterday with a sharp rise but has started today with a significant decline. This volatility may push the pair towards the resistance level of 0.6351

Laurie Bailey 04:12 2025-01-21 UTC+2

Trading Signals for XAU/USD for January 20-23, 2025: buy above $2,700 (21 SMA - 6/8 Murray)

Early in the American session, gold is trading around 2,709 bouncing after having hit the low at 2,690. It is likely that it will continue to rise in the next

Dimitrios Zappas 16:15 2025-01-20 UTC+2

Trading Signals for EUR/USD for January 20-23, 2025: buy above 1.0300 (21 SMA - 200 EMA)

On the other hand, if the euro consolidates below 1.0298, we could see the resumption of the bearish cycle and the euro could reach 3/8 of Murray at 1.0131

Dimitrios Zappas 16:12 2025-01-20 UTC+2

EUR/USD: January 20th. A Crucial Week for the Dollar

On Friday, the EUR/USD pair continued to trade sideways between 1.0255 and 1.0336. The market has taken a pause ahead of Donald Trump's inauguration and is waiting for further developments

Samir Klishi 13:36 2025-01-20 UTC+2

Forecast for GBP/USD on January 20, 2025

On Friday, the GBP/USD pair continued to trade sideways on the hourly chart, completely ignoring the 1.2191 level. As this is a classic range-bound movement, it's best to wait

Samir Klishi 13:27 2025-01-20 UTC+2

Video analysis for January 20, 2025

Potential for the further rally on Nasdaq

Petar Jacimovic 12:24 2025-01-20 UTC+2

Forex forecast 20/01/2025: EUR/USD, GBP/USD, USD/JPY, SP500, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:59 2025-01-20 UTC+2

EUR/USD and GBP/USD on January 20 - Technical Analysis of the Situation

The daily short-term trend continues to hold the market close. Today, it has shifted to the lower part of the consolidation zone (1.0269) as if encouraging bullish players to take

Evangelos Poulakis 06:52 2025-01-20 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.