Technical outlook GBP/USD

[mdashik]

Having faced rejection at 50-day SMA resistance, the pair turned back below 38.2% Fibonacci retracement level of 1.3445-1.1980 downslide. Hence, weakness below Monday’s low support near 1.2440 level is likely to drag the pair below 1.2400 round figure mark support, towards last week lows support near 1.2350 region also nearing 23.6% Fibonacci retracement level

On the upside, 1.2540-50 region (38.2% Fibonacci retracement level) remains immediate resistance to clear above which the pair is likely to make a fresh attempt towards retesting 50-day SMA hurdle, currently near 1.2635-40 region. A convincing move above 50-day SMA is likely to trigger short-covering rally immediately towards its next major hurdle near 1.2700 handle, marking 50% Fibonacci retracement level.

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[Mhafiz™]

বিডিফরেক্সপ্রো'তে স্বাগতম ! অনেক ধন্যবাদ বিডিফরেক্সপ্রো'তে পোস্ট শুরু করার জন্য, তবে যেহেতু ফোরামটি বাংলায় তাই ভাষার দিকটা মাথায় ভালো হয়; আশা করি সকলের জন্য সুবিধা এবং সহায়ক হবে। পরবর্তী পোস্টের অপেক্ষায় থাকলাম। আবারো ধন্যবাদ;