{"id":7905,"date":"2024-06-20T03:51:13","date_gmt":"2024-06-20T07:51:13","guid":{"rendered":"https:\/\/parmaks.com\/Resources\/gbp-usd-retreats-as-bulls-pause-key-levels-to-watch\/"},"modified":"2024-06-20T03:51:13","modified_gmt":"2024-06-20T07:51:13","slug":"gbp-usd-retreats-as-bulls-pause-key-levels-to-watch","status":"publish","type":"post","link":"http:\/\/parmaks.com\/Resources\/gbp-usd-retreats-as-bulls-pause-key-levels-to-watch\/","title":{"rendered":"GBP\/USD Retreats as Bulls Pause: Key Levels To Watch"},"content":{"rendered":"

\"Profit<\/a>
\n<\/p>\n

Pound Retreats Against US Dollar<\/h2>\n
\"\"<\/a>
Source: ActionForex<\/figcaption><\/figure>\n

The British Pound peaked around 1.2860<\/strong><\/em> and began a fresh decline against the US Dollar. GBP\/USD fell below the 1.2800<\/strong><\/em> and 1.2740<\/strong><\/em> support levels, moving into a short-term bearish zone.<\/p>\n

On the 4-hour chart<\/strong><\/em>, the pair broke below a key bullish trend line with support at 1.2720<\/strong>.<\/em> The bears managed to push the pair below the 100 simple moving average (SMA)<\/strong><\/em> (red, 4-hour), and it tested the 200 SMA<\/strong><\/em> (green, 4-hour).<\/p>\n

A low formed at 1.2655<\/strong><\/em>, and the pair is now consolidating its losses. If the pair starts to increase again, it might face resistance near the 23.6% Fibonacci retracement level<\/strong><\/em> of the downward move from the 1.2860 swing high<\/strong><\/em> to the 1.2655 low<\/strong>.<\/em><\/p>\n

The first major resistance is near the 1.2740<\/strong><\/em> level. A clear move above this resistance might push it toward the 1.2780<\/strong> level<\/strong><\/em>. Further gains could drive it towards the 1.2860<\/strong><\/em> level in the near term.<\/p>\n

If the pair fails to rise, it might dip again. Immediate support is near the 1.2655<\/strong> level<\/strong><\/em>, with the next major support around the 1.2620 zone<\/strong><\/em>. A break and close below the 1.2620<\/strong><\/em> support could open the doors for a larger decline, potentially targeting the 1.2550 level<\/strong><\/em>.<\/p>\n

In comparison, EUR\/USD found support near the 1.0665 zone<\/em><\/strong> and may aim for a recovery wave in the near term.<\/p>\n

The post GBP\/USD Retreats as Bulls Pause: Key Levels To Watch<\/a> appeared first on Dumb Little Man<\/a>.<\/p>\n

\"Profit<\/a>
<\/p>\n","protected":false},"excerpt":{"rendered":"

Pound Retreats Against US Dollar Source: ActionForex The British Pound peaked around 1.2860 and began a fresh decline against the US Dollar. GBP\/USD fell below […]<\/p>\n","protected":false},"author":1,"featured_media":7906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-7905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-happiness"],"_links":{"self":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/7905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/comments?post=7905"}],"version-history":[{"count":0,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/posts\/7905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media\/7906"}],"wp:attachment":[{"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/media?parent=7905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/categories?post=7905"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/parmaks.com\/Resources\/wp-json\/wp\/v2\/tags?post=7905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}