13 Dec 2019
GBP/USD Price Analysis: Pound corrects from 17-month highs, trades near 1.3330 level
- The pound is correcting the massive bullish spike triggered by the UK elections.
- Support is seen at the 1.3344, 1.3288 and 1.3254 price levels.
GBP/USD daily chart
The market reached 17-month highs as the elections in the UK provided extreme volatility. The underlying trend stays bullish while above the main daily SMAs.
GBP/USD four-hour chart
GBP/USD is correcting down after the massive bullish spike. The market is testing the 1.3344 support. If the correction goes on below that level the market could continue to slide towards the 1.3288 and 1.3254 price levels, according to the Technical Confluences Indicator.
GBP/USD 30-minute chart
The spot is challenging the 50 SMA. Bulls seem to be absent this Friday. Resistance is seen at the 1.3435, 1.3455/62 and 1.3518 levels, according to the Technical Confluences Indicator.
Additional key levels