Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

GBP/USD breaks major resistance at 1.2400 handle, jump till 1.2520 likely

  • Major resistance – 1.2400 (Support turned into resistance)
     
  • Cable rallying sharply or the past four trading session and breaks 1.2400 handle . The pair jumped till 1.24350. It is currently trading around 1.24179.
     
  • GBP rallying against all major pairs after BOE has kept its interest rates unchanged at 0.25% but one of the committee member Forbes who leaves at end of June voted against rest of member for a rate hike of 25bpbs due to rising inflation.
     
  • Cable upside is capped by 1.24350 (trend line joining 1.27060 and 1.25695) and any break above will take the pair till 1.2520. The pair should break above 1.25820 for further jump till 1.27060.
     
  • On the lower side , near term support is around 1.2380 and any break below targets 1.2320/1.2283 (100- 4H EMA)/1.2250 level.

    It is good to buy on dips around 1.2400-1.2405 with SL around 1.2345 for the TP of 1.2520   
  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

February 22 21:45 UTC Released

NZRetail Qrtly Vs Yr Ago

Actual

5.4 %

Forecast

Previous

4.1 %

February 22 21:45 UTC Released

NZRetail Sales Volumes QQ

Actual

1.7 %

Forecast

Previous

0.2 %

January 31 00:00 UTC 3303133031m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3303133031m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 4485144851m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 3303133031m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 4485144851m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 3303133031m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3303133031m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3303133031m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.