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230418 GBPUSD

by | Apr 23, 2018 | GBP/USD | 0 comments

GCMAsia - GBPUSD
GBPUSD
GBPUSD
2018-04-23
Resistance and Support Level Explanation
Resistance 1.4240 Daily
Support 1.4000 Daily

GBPUSD, Daily: GBPUSD extended its losses following prior closure below the 20-MA line (red) and upward trendline. Recent formation of death cross from MACD histogram suggests further bearish bias. Thus, a close below the strong support level at 1.4000 would provide further clarification.

 

Resistance level: 1.4240, 1.4430

Support level: 1.4000, 1.3800