News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
GBPUSD Dips Below 20 Day Average and Recovers

GBPUSD Dips Below 20 Day Average and Recovers

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Dips Below 20 Day Average and Recovers

Prepared by Jamie Saettele, CMT

The GBP remains strong across the board. After dipping below the 20 day average for the first time since 4/18, the GBPUSD found bottom just ahead of the 4/2 high and recovered to end near its highs. The larger trend remains up but the inability to find a low early in the month decreases confidence in bullish continuation here and now. Additional support comes in from the trendline that extends off of the January, March, and 4/16 lows. The line is just under 16000 tomorrow.

Ideas:

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES