GBP/USD – Technical Overview, April 29

From a specialized viewpoint, any significant recuperation endeavor may now go up against some new supply close later bearish breakdown point, around the 1.2960-75 region, involving the significant 200-day SMA and a dropping triangle design support. A finish uptick may incite some extra short-covering move yet appears to be bound to stay topped close to a plunging pattern line obstruction (some portion of the slipping triangular arrangement), as of now close to the 1.30

On the other side, the 1.2900 round figure mark presently appears to ensure the prompt drawback, which whenever broken may quicken the slide towards the 1.2830 region. A finish offering can possibly keep hauling the pair further towards its next real help close to the 1.2775 region, stamping 61.8% Fibonacci retracement dimension of the 1.2395-1.3380 up-move.

GBP/USD ,Daily Analysis for April 29:

PENDING ORDER BUY  GBP/USD @ 1.2943     SL:  1.2929              TP1: 1.2958     TP2: 1.2973     TP3: 1.2988

PENDING ORDER SELL  GBP/USD @ 1.2925    SL:  1.2939             TP1: 1.2910     TP2: 1.2895     TP3: 1.2880

gbpusd-forex daily analysis


John Wat

About: John Wat

Forex analyst with 10 years experience in Forex market.Trading Expert ABC Breakouts, Trendlines breakouts, Supply & Demand, Customized Elliot Wave.