Yahoo Finance Technical Overview of GBP/USD, GBP/JPY, GBP/AUD & GBP/NZD: 13.12.2017
GBP/USD
Although better than expected UK Earnings triggered the GBPUSD’s bounce, the pair still remains below a short-term ascending trend-line, at 1.3370, that it broke yesterday. As a result, the pair’s pullback to 1.3300 round-figure can’t be denied if FOMC pleases the greenback Bulls; however, 50-day SMA level of 1.3245 might confine the quote’s additional downside. Given the prices continue declining after the 1.3245 SMA figure’s break, the 1.3170-60 region, comprising six-month old upward slanting TL, could challenge the Bears. On the contrary, a successful clearance of 1.3370 could help the buyers to aim for 1.3400 and the 1.3440 resistances, which if broken might further accelerate the pair’s recovery towards 1.3500 and the 1.3545-50 north-side numbers. Moreover, pair’s sustained trading beyond 1.3550 enables it to meet the September high around 1.3660.
GBP/JPY
GBPJPY is another GBP pair which took a U-turn after British employment details but still trades beneath recent TL break and hence continue remaining weaker. In this case, the 150.80, the 150.40 and the 150.00 can act as immediate rests for the pair before it can reverse from 149.70 horizontal-line. Should sellers refrain to respect the 149.70 support, the 149.20, the 148.60 and the 148.30 might please them. Meanwhile, the 151.70 may offer nearby resistance to the pair ahead of grabbing traders’ attention to the 152.15 TL support-turned-resistance. If the pair rises above 152.15, the 152.45, the 152.70 and the recent high of 153.40 are likely land-marks that it can target ahead of dreaming for 61.8% FE level of 154.30.
GBP/AUD
Unlike previous two pairs, the GBPAUD aptly conquered recently broken trend-line support-turned-resistance, which in-turn indicates its further advances to 1.7705-10 prior to confronting the 1.7800 tough upside level. During the pair’s north-run above 1.7800, the 1.7870 and the 1.7900-10 horizontal-line should be watched carefully as a break of which can further propel the quote towards 1.8000 and then to the 61.8% FE level of 1.8165. Alternatively, pair’s inability to sustain latest up-moves can again drag it to 1.7570 and the 1.7520 supports, which if broken may only have 1.7425 as a buffer before the 1.7355-65 horizontal-line comes into play. If at all the 1.7355 is broke, chances of the pair’s plunge to 1.7285 and then to the 1.7235 become brighter.
GBP/NZD
With the four-month long ascending trend-line restricting the GBPNZD’s downside, it seems strong enough to challenge the 1.9330-40 resistance-region in order to regain its status above 1.9400 round-figure. Should prices manage to run above 1.9400, the 1.9550, the 1.9660 and the 1.9740 are likely following resistances that needs to be cleared prior to aiming the 1.9835-40 region. If at all the pair closes below aforementioned TL figure of 1.9130, the 50-day SMA level of 1.9090 should also be conquered to decline towards 1.9000 and the 1.8940 supports. Additionally, pair’s extended south-run beneath 1.8940 can have 1.8820-10 and the 1.8740-30 as subsequent rests to avail.
Cheers and Safe Trading,
Anil Panchal
This article was originally posted on FX Empire
