GBPUSD Price Is Breaking Up $1.360 Resistance Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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GBPUSD Price Analysis – February 17
Should the bulls increase their momentum, it will increase the price to break up the $1.360 level which will push it to test $1.364 and $1.368 levels. Inability to break up the resistance level of $1.360 by the bulls may decrease the price to the support level of $1.350, which may decrease to $1.344 and $1.336 price levels.
GBPUSD Market
Key levels:
Resistance levels: $1.360, $1.364, $1.368
Support levels: $1.350, $1.344, $1.336
GBPUSD Long-term trend: Bullish
GBPUSD is bullish on the daily chart. GBPUSD started a bullish movement from the low of $1.336 level when a Morning star candle pattern formed on January 28. The currency pair soars towards the resistance level of $1.360 on February 03. The mentioned level holds the price and it started a ranging movement within the $1.360 and $1.350 levels. The bulls are trying to break up the resistance level of $1.360.
The price is trading above the 9 periods EMA and the 21 periods EMA which indicate that buyers’ momentum is increasing. The relative strength index period 14 is at 59 levels with the signal lines pointing up to indicate buy signal. Should the bulls increase their momentum, it will increase the price to break up the $1.360 level which will push it to test $1.364 and $1.368 levels. Inability to break up the resistance level of $1.360 by the bulls may decrease the price to the support level of $1.350, which may decrease to $1.344 and $1.336 price levels.
GBPUSD Medium-term Trend: Bullish
GBPUSD is on the bullish movement on the medium-term outlook. The currency was ranging within the resistance level of $1.360 and support level of $1.350 last week. The movement started last two weeks. At the moment, the price is increasing as the bulls are gaining more pressure.
The price is trading above the 9 periods EMA and the 21 periods EMA as an indication that bulls are dominating GBPUSD market. The relative strength index period 14 is at 63 levels displaying buy signal.
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