From a specialized point of view, the medium-term slide hauled the pair back underneath the significant 200-day SMA and thus, a finish offering can possibly keep applying some descending weight. The slide could get stretched out towards testing sub-1.2900 dimension – bolster set apart by a 1-1/2-month-old slipping pattern line opposition break-point. Inability to protect the referenced opposition turned help may discredit any close term positive predisposition and turn the pair defenseless against broaden the destruction further towards testing the 1.2790 round figure mark.

On the other side, the key 1.30 mental imprint currently ends up quick solid obstruction, which whenever cleared may help the pair to make a new endeavor towards clearing the 1.3040-50 supply zone. A supported move past the referenced boundary may trigger a short-covering move and lift the pair further towards recovering the 1.3110 round figure mark on the way the ongoing swing highs around the 1.3170 region.

GBP/USD, Daily Forex Signals,May 14:

PENDING ORDER BUY  GBP/USD @ 1.2965      SL:  1.2948              TP1: 1.2980     TP2: 1.2995    TP3: 1.3010

PENDING ORDER SELL  GBP/USD @ 1.2943     SL:  1.2960             TP1: 1.2928     TP2: 1.2913     TP3: 1.2898

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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.