GBPUSD Price Analysis – December 12
The price may reverse at the supply level of $1.31 in case the level holds. Should the bulls increase their momentum to break up the resistance level of $1.31then, $1.33 will be the next target.
Key levels:
Supply levels: $1.31, $1.33, $1.34
Demand levels: $1.29, $1.27, $1.25
GBPUSD Long-term Trend: Bullish
On the long-term outlook, GBPUSD is bullish. The breakout of the price at the $0.29 price level on 03 December propelled the price towards the supply level l of $1.31. The price reached the level on December 11. The Bulls were unable to break up the level; it is the high of May. As at the time writing this report, the price bounces off the resistance level of $1.31.
The two EMAs are well separated pointing to the north to indicate bullish momentum and currency pair is trading above the 21 periods EMA and 50 periods EMA at a distance which indicates that the bulls are holding the GBPUSD market. The price may reverse at the supply level of $1.31in case the level holds. Should the bulls increase their momentum to break up the resistance level of $1.31then, $1.33 will be the next target. The Stochastic Oscillator period 14 is above 80 levels with the signal lines pointing down to indicate a sell signal.
GBPUSD Medium-term Trend: Bearish
GBPUSD is bearish in the medium-term outlook. The Bulls pushed up the price to break up the resistance level of $1.31 on December 11 but the Bears did not succumb to the breakout. A bearish inside bar candle formed and the price is descending towards the demand level of $1.29.
GBPUSD has penetrated the 21 periods EMA downside and currently touching 50 periods EMA. The second EMA may be penetrated and the price may find support at $1.29 price level. The stochastic Oscillator period 14 is at 60 levels with the signal lines pointing down to indicate a sell signal.
Please note: Cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result short period
English
Arabic
Dutch
French
German
Italian
Polish
Portuguese
Spanish