ADS Securities: GBPUSD Key resistance 1.2455


Brexit trigger yesterday got traders' attention! As for the cable pair, ADS Securities' analysts forecast GBPUSD Key resistance 1.2455. What is your bet?

30 March, ADS Securities –Yesterday, the Pound traded in the red against the US Dollar as the UK Prime Minister triggered Article 50, formally starting the Brexit process.

GBPUSD Key resistance 1.2455

Additionally, mortgage approvals in the UK fell for the first time in six months in February, adding further weakness in the pair. As of now, the pair is trading with a consolidated range, as investors await Britain’s consumer confidence to be released at the end of the day.

xm.com
95/100
xm.com Review
Visit Site
eToro
90/100
eToro Review
Visit Site
XTB
80/100
XTB Review
Visit Site

However, the MACD indicator is trading with an upside tone, suggesting at possible recovery in the pair over intraday basis. Immediate resistance is situated at the 1.2455 level, followed by the 1.2465 and 1.2475 levels. A move back above the latter is required to negate further weakness in the pair. Meanwhile, key support aligns at the 1.2430 level, followed by the 1.2420 and 1.2405 levels.

GBPUSD Key resistance 1.2455

ADS Securities Risk Disclaimer

This technical analysis about GBPUSD is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. Also, this communication may not be used in whole or in part by any person or entity. Which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk. Hence, it may not be suitable for all investors.

All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary. It does not constitute investment advice. Nor a solicitation or recommendation for you to buy or sell any over-the-counter product or another financial instrument.

Leave a Reply

Your email address will not be published. Required fields are marked *