Technical Analysis

GBP near 20-month low on Brexit setback

Published on 2018-12-11 10:55 Share
EURUSD-11-12-2018

USDJPY

USD/JPY tracks the retreat in the US dollar from six-day tops versus its main rivals, as the bears derive support from cautious markets amid Brexit uncertainty and the US-China trade spa. Support stands at 113.00 level and a break through might lead to 112.50 region. On the flipside, a break above the 113.50 area will expose 114.00 region.

USDJPY-11-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.36 111.80 112.49 112.93 113.62 114.06 114.75
WEEKLY 110.38 111.30 111.30 112.94 113.66 114.58 115.30
MONTHLY 110.53 111.42 112.44 113.33 114.35 115.24 116.26
 

EURUSD

EUR/USD is trading little changed on the upside at around 1.1370 after being dragged from above 1.1400 by Brexit deal vote fail in the UK. A break below the 1.1350 handle could drag the pair back towards 1.1300 region. On the flipside, the pair is facing resistance near the 1.1375 and a move above that level clear the path for more gains towards the 1.1400 and 1.1500 resistance levels.

 EURUSD-11-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1233 1.1292 1.1324 1.1383 1.1415 1.1474 1.1506
WEEKLY 1.1203 1.1257 1.1317 1.1371 1.1431 1.1485 1.1545
MONTHLY 1.0901 1.1058 1.1188 1.1345 1.1475 1.1632 1.1762
 

GBPUSD

GBP/USD is currently grinding its way back above 1.2580 following Monday's decline from the 1.2770 region, fuelled by the news that Prime Minister Theresa May would pulling her Brexit Withdrawal Proposal from the parliamentary vote. A break below the 1.2500 handle could drag the pair back towards 1.2400 region. On the flipside, the pair is facing resistance near the 1.2575 and a move above that level clear the path for more gains towards the 1.2600 and 1.2700 resistance levels.

  GBPUSD-11-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2216 1.2363 1.2461 1.2608 1.2706 1.2853 1.2951
WEEKLY 1.2463 1.2561 1.2645 1.2743 1.2827 1.2925 1.3009
MONTHLY 1.2142 1.2433 1.2593 1.2884 1.3044 1.3335 1.3495
 

GOLD

Gold is currently trading at $1,245, having clocked a low of $1,242 earlier today. The rising demand indicates that investors are expecting the yellow metal to remain better bid while heading into the year-end. Short term support stands at 1240, and a fall through could take it to the next support level of 1236. On the other side resistance stands at 1256, and a rise through could take it to the next resistance level of 1264.

  Gold-11-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1236.84 1241.92 1245.69 1250.77 1254.54 1259.62 1263.39
WEEKLY 1205.00 1215.80 1215.80 1245.00 1263.40 1274.20 1292.60
MONTHLY 1161.34 1181.87 1203.94 1224.47 1246.54 1267.07 1289.14

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