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GBPUSD Technical analysis 14 August 2018

2018-08-13 11:08 pm | Resource: Technical Analysis | No Views : 94

Time frame Used - four hours
The GBPUSD is moving in a bearish direction in the near term
The bears was able to control movement of the GBPUSD to break down level of  1.2948 down to the 1.2718 level
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators to the oversold area  level and the start of the recovery of indicators
Therefore we expect that the GBPUSD to rebound higher to target level of  1.2948
The alternative scenario is that the GBPUSD break level of 1.2718 down to target the 1.2595 level
Resistance: 1.2948 - 1.3065 - 1.3181
Support: 1.2718 - 1.2595 - 1.2504
Direction: Down
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