. GBPUSD Technical Analysis - 12 September 2022

GBPUSD Technical Analysis – 12 September 2022

12 Sep 2022

GBPUSD Technical Analysis: Weekly Chart

GBPUSD Technical Analysis

In the weekly charts, GBPUSD is trading in a down channel. GBPUSD is currently trading below all SMA except MA(5).

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.15000 the resistance level is at 1.17000

GBPUSD will trade in a down channel until there is a trend reversal.

GBPUSD Technical Analysis: Daily Chart

GBPUSD Technical Analysis

In the daily charts, GBPUSD is trading in a down channel. GBPUSD is currently trading below all SMA except MA (5).

RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 1.15500 the resistance level is at 1.16800

GBPUSD will trade in a down channel until there is a trend reversal.   

How to Trade GBPUSD this Week:

GBPUSD will follow the downtrend until its trend reversal. So, remain bearish on GBPUSD

TRADE SUGGESTION- SELL AT 1.16343, TAKE PROFIT AT 1.16000 AND STOP LOSS AT 1.16800