empty
27.04.2023 08:18 AM
Technical Analysis of GBP/USD for April 27, 2023

Technical Market Outlook:

The GBP/USD pair has been developing the ABC corrective cycle pattern, but the wave B looks incomplete as it gets more complex and time-consuming. The intraday technical support is seen at the level of 1.2366 and the intraday technical resistance is seen at 1.2507. The momentum on H4 time frame chart is negative, so the down move in wave C is still on the table. When the overall corrective cycle is completed, the next target for bulls is seen at 61% Fibonacci retracement located at the level of 1.2778. The key short-term technical support is seen at 1.2343.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.24950

WR2 - 1.24646

WR1 - 1.24472

Weekly Pivot - 1.24342

WS1 - 1.24168

WS2 - 1.24038

WS3 - 1.23734

Trading Outlook:

Pound continues the corrective cycle to the upside and on the Weekly time frame chart the price is about to hit the 61% Fibonacci retracement located at the level of 1.2778. When this level is hit, the high volatility is expected, so please stay focused as the bears will defend this level strongly.

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 18/07/2025: EUR/USD, GBP/USD, USD/JPY, Oil, Ethereum and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 14:51 2025-07-18 UTC+2

GBP/USD. Daily Overview on July 18, 2025

On Thursday, the pair moved downward and nearly tested the lower fractal at 1.3369 (yellow dashed line), then reversed upward and closed the daily candlestick at 1.3412. Today, the pair

Stefan Doll 13:14 2025-07-18 UTC+2

XAU/USD. Analysis and Forecast

Today, gold is rising. The recent price movement within a range observed since the beginning of this month represents the formation of a "rectangle" pattern, indicating trader indecision. In addition

Irina Yanina 13:06 2025-07-18 UTC+2

EUR/USD. Daily Overview on July 18, 2025

On Thursday, the pair moved downward toward the 61.8% retracement level at 1.1650 (red dashed line), then reversed upward, closing the daily candlestick at 1.1560. Today, the price may continue

Stefan Doll 12:49 2025-07-18 UTC+2

Forecast for EUR/USD on July 18, 2025

On Thursday, the EUR/USD pair returned to the 100.0% corrective level at 1.1574 and bounced off it for the second time in a row. This resulted in a reversal

Samir Klishi 12:16 2025-07-18 UTC+2

Forecast for GBP/USD on July 18, 2025

On the hourly chart, the GBP/USD pair on Thursday returned to the support zone of 1.3357–1.3371 and bounced off it again. This resulted in a reversal in favor

Samir Klishi 11:49 2025-07-18 UTC+2

Trading Signals for EUR/USD for July 18-21, 2025: buy above 1.1596 (200 EMA - 7/8 Murray)

Given that the eagle indicator is showing potential for a possible recovery for the euro, we will look for buying opportunities whenever the euro pulls back and trades above 1.1596

Dimitrios Zappas 08:22 2025-07-18 UTC+2

Trading Signals for BITCOIN for July 18-21, 2025: buy above $118,000 (6/8 Murray - 21 SMA)

If Bitcoin makes a technical correction toward the support at 118,750 or the secondary uptrend channel around 118,200 in the coming hours, this will be seen as a buying opportunity

Dimitrios Zappas 08:22 2025-07-18 UTC+2

Trading Signals for GOLD (XAU/USD) for July 18-21, 2025: buy above $3,330 (21 SMA - 5/8 Murray)

Conversely, if gold falls below 3,320 and breaks the uptrend channel, we could expect a trend reversal, and it may reach the 4/8 Murray line at 3,281, eventually reaching

Dimitrios Zappas 07:23 2025-07-18 UTC+2

If XAU/USD successfully breaks through and closes below the Pivot, it has the potential to continue its decline to the next support level, Friday, July 18, 2025.

XAU/USD – Friday, July 18, 2025. The potential for XAU/USD to weaken continues, as reflected in The EMA (50) is below the EMA (200) and the RSI (14)

Arief Makmur 07:02 2025-07-18 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.