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GBPUSD Price Continues Ranging Movement Within $1.42 and $1.41 Levels – Cryptovibes.com – Daily Cryptocurrency and FX News

GBPUSD Price Continues Ranging Movement Within $1.42 and $1.41 Levels – Cryptovibes.com – Daily Cryptocurrency and FX News


 GBPUSD Price Analysis – June 10

In case the bulls increase their momentum, it will increase the price to penetrate $1.42 level which will push the price to test $1.43 and $1.44 price level. Should the price break down the support level of $1.41, it will decrease to $1.40 and $1.39 price level.

GBPUSD Market

Key levels:

Resistance levels: $1.42, $1.43, $1.44

Support levels: $1.41, $1.40, $1.39

 

GBPUSD Long-term trend: Ranging

GBPUSD is ranging on the daily chart. The bulls find it difficult to break up the resistance level of $1.42 when the pressure of the bulls pushes the pounds USD to reach the high of $1.42 level. The bulls have been trying to break up the level but the level holds. The confluence at the support level of $1.41 remains strong for the bears to break down the support level at $1.41. The price is ranging between the $1.42 and $1.41 price level for more than two weeks.

GBPUSD daily chart, June 10

The price is hovering over the 9 periods EMA and the 21 periods EMA which indicate a ranging movement. The relative strength index period 14 is at 55 levels with the signal lines pointing up to indicate buy signal. In case the bulls increase their momentum, it will increase the price to penetrate $1.42 level which will push the price to test $1.43 and $1.44 price level. Should the price break down the support level of $1.41, it will decrease to $1.40 and $1.39 price level.

 

GBPUSD Medium-term Trend: Ranging

GBPUSD is on the ranging movement on the medium-term outlook. Ranging movement continues in GBPUSD market. It has been trading within the support level of $1.41 and resistance level of $1.42 for more than two weeks. Ranging movement continues until there is a breakout.

GBPUSD 4 hour chart, June 10

The price is trading over and around the 9 periods EMA and the 21 periods EMA as an indication of consolidating market. The relative strength index period 14 is above 50 levels displaying buy signal.

 



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