Technical analysis of GBP/USD 08/12/2020

The GBP/USD currency pair is in an uptrend on the daily timeframe. The price found resistance at 1.3185, from which it began to correct and is currently consolidating around 1.3050. The technical analysis suggests the development of a downward correction within an uptrend. The first support level is at the previous high, which coincides with the 38.2% Fib, around 1.2820. The second and key support level is at the 1.2700 area where MA200 is superimposed on the 50% Fib. Cancellation of the correctional decline option will be the growth of the pair above 1.3185.

GBPUSD_STPDaily

Created by Joshua Hayn

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