PRESS RELEASE: GBPUSD Price May Reach $1.32 Level

PRESS RELEASE: GBPUSD Price May Reach $1.32 Level
April 12, 2019
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April 12, 2019

GBPUSD Price Analysis – April 12

Further increase in the Bulls’ pressure will cause the bullish breakout at the upper trend line of the triangle and the price will reach $1.32 level. In case the Bulls lose the pressure, GBPUSD may break out at the lower trend line of the triangle.

GBPUSD Market

Key levels:

Supply levels: $1.32, $1.33, $1.35

Demand levels: $1.29, $1.28, $1.26

GBPUSD Long-term trend: Ranging

On the daily chart, GBPUSD continues on the sideways movement. GBPUSD still maintain its sideways movement within the symmetrical triangle. The GBPUSD continue bounces as it is touching the upper trend line and the lower trend line of the symmetrical triangle. Notwithstanding, the breakout is imminent. Today, the daily candle emerged as a bullish, in case it touches the upper trend line; it may break up the upper trend line of the triangle and extend to $1.32 price level.

GBPUSD Daily Chart, April 12

The 21 periods EMA and 50 periods EMA maintains their flat direction within the symmetrical triangle and the currency pair trading up and down over the two EMAs. The Stochastic Oscillator period 14 is above 20 levels with the signal lines turning up to indicate buy signal. Further increase in the Bulls’ pressure will cause the bullish breakout at the upper trend line of the triangle and the price will reach $1.32 level. In case the Bulls lose the pressure, GBPUSD may break out at the lower trend line of the triangle.

GBPUSD Medium-term Trend: Ranging

GBPUSD is still on the ranging movement on the medium-term outlook. There is a high probability that the currency pair will bullishly breakout of the symmetrical triangle and touch the supply level of $1.32.

GBPUSD $-hour chart, April 12

Meanwhile, the stochastic Oscillator period 14 is below 40 levels and the signal lines trying to bend up to indicate buy signal and further increase in GBPUSD price.

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