GBPUSD TECHNICAL ANALYSIS

Here is an GBPUSD Technical Analysis on the daily time frame. It is a major currency pair and one of the 21 currency pairs that we cover in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

GBPUSD on the Daily Time Frame

Price is currently trading above the 15 and 30 EMA. Price is at the top range of the channel and may start to drop.

Price just hit the slaunted resistance level.

MACD is in green and above the zero line showing that price will be dropping soon.

Zero line is also yellow, thus strong momentum.

Additional points on EURJPY

15 and 30 EMA may act as a potential dynamic support level.

Conclusion

Price may increase slightly until it comes in contact with the slaunted resistance level.

Despite, price will be dropping sometime soon.

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Have a great trading day ahead!

Ilyas Ismail

Currency Strategist

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