empty
 
 
22.10.2023 08:27 PM
October 22, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

This image is no longer relevant

The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend.

It broke the 1.2800 support level on a H4 candlestick and extended its decline towards 1.2500, where it met a crucial Fibonacci retracement level.

This could be a good opportunity for intraday traders to go long, with a stop loss just below 1.2500.

However, the pair showed some indecision in a tight range before resuming its bearish trend.

The next target for the bears could be 1.2160, which acted as a key support level last week.

A break below this level could open the doors for more losses towards 1.1850.

Conversely, any bullish recovery towards 1.2520-1.2600 could be seen as another chance to sell.

Summary
Urgency
Analytic
Mohamed Samy
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback