ポンド／米ドルロング
H4 demand at 1.2476/1.2526 in focus
GBP/USD:
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 remains healthy in June, with the month currently recording gains of more than 1.7% despite facing long-term trendline resistance (1.7191).
Concerning the primary trend, lower peaks and troughs have decorated the monthly chart since early 2008.
Daily timeframe:
Sterling faces the risk of further declines according to the daily chart, as Wednesday held a mildly bearish tone following Tuesday’s retest at the 200-day simple moving average at 1.2683.
Fresh selling shifts focus to demand at 1.2192/1.2361, an area not only fastened to the top edge of monthly support but also considered the decision point to break 1.2647 (April 14 high).
Yet, in the event buyers move in, supply at 1.3021/1.2844 could be thrown onto the radar.
H4 timeframe:
As emphasised in Wednesday’s analysis, research noted H4 was likely to address demand at 1.2476/1.2526, an area boasting a close connection with a 38.2% Fib ret level at 1.2534.
As you can see, buyers are currently lining up a defence off the aforesaid demand. Any upside from here may find opposition around resistance at 1.2629. Higher than this level would raise a few eyebrows, having seen monthly and daily price reflecting a bearish tone.
Should 1.2476/1.2526 fail, neighbouring demand rests at 1.2374/1.2427, bringing with it trendline support (1.2075).
H1 timeframe:
Since establishing position under 1.26 on Tuesday, price has been feasting on the underside of the 100-period simple moving average.
It was mentioned in Wednesday’s analysis that demand (upper blue arrow) around 1.2565 was likely consumed on Tuesday. Lower demand (lower blue arrow) around 1.2535 also gave the impression buy orders were collected soon after forming. As you can see, buyers are indeed putting forward a weak tone with traders likely betting on a dip to 1.25.
Structures of Interest:
1.25 makes for an interesting downside target as well as a platform to consider intraday buying opportunities from, having seen the round number located within H4 demand at 1.2476/1.2526. However, there is the possibility traders waiting for 1.25 to make an entrance may be left stranded as H4 demand already made a show.
Between 1.2629/1.26 offers buyers not only a take-profit target, but also an area to consider bearish signals, due to higher-timeframe analysis pointing to lower ground.
Monthly timeframe:
(Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves)
Support at 1.1904/1.2235 remains healthy in June, with the month currently recording gains of more than 1.7% despite facing long-term trendline resistance (1.7191).
Concerning the primary trend, lower peaks and troughs have decorated the monthly chart since early 2008.
Daily timeframe:
Sterling faces the risk of further declines according to the daily chart, as Wednesday held a mildly bearish tone following Tuesday’s retest at the 200-day simple moving average at 1.2683.
Fresh selling shifts focus to demand at 1.2192/1.2361, an area not only fastened to the top edge of monthly support but also considered the decision point to break 1.2647 (April 14 high).
Yet, in the event buyers move in, supply at 1.3021/1.2844 could be thrown onto the radar.
H4 timeframe:
As emphasised in Wednesday’s analysis, research noted H4 was likely to address demand at 1.2476/1.2526, an area boasting a close connection with a 38.2% Fib ret level at 1.2534.
As you can see, buyers are currently lining up a defence off the aforesaid demand. Any upside from here may find opposition around resistance at 1.2629. Higher than this level would raise a few eyebrows, having seen monthly and daily price reflecting a bearish tone.
Should 1.2476/1.2526 fail, neighbouring demand rests at 1.2374/1.2427, bringing with it trendline support (1.2075).
H1 timeframe:
Since establishing position under 1.26 on Tuesday, price has been feasting on the underside of the 100-period simple moving average.
It was mentioned in Wednesday’s analysis that demand (upper blue arrow) around 1.2565 was likely consumed on Tuesday. Lower demand (lower blue arrow) around 1.2535 also gave the impression buy orders were collected soon after forming. As you can see, buyers are indeed putting forward a weak tone with traders likely betting on a dip to 1.25.
Structures of Interest:
1.25 makes for an interesting downside target as well as a platform to consider intraday buying opportunities from, having seen the round number located within H4 demand at 1.2476/1.2526. However, there is the possibility traders waiting for 1.25 to make an entrance may be left stranded as H4 demand already made a show.
Between 1.2629/1.26 offers buyers not only a take-profit target, but also an area to consider bearish signals, due to higher-timeframe analysis pointing to lower ground.
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