Global Broker Regulation Inquiry App
WikiFX
English
简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
GBP/USD Forecast: Navigating the Market's Ups and Downs
Abstract：Analyzing Key Signals in the GBP/USD Currency Pair
Analyzing Key Signals in the GBP/USD Currency Pair
Technical Analysis: The GBP/USD's Downward Journey
As of January 2, 2024, the GBP/USD pair has been testing critical support levels. The pair touched the intraday low at 1.2700, with bearish pressure suggesting possible further declines to 1.2675 (100 EMA) and 1.2615. The momentum indicates that bears currently have the upper hand in the market.
Indicator Analysis
- DEMA (50 Close): 1.2749.
- EMA (100 Close): 1.2675.
Relative Strength Index (RSI):
- The RSI reads at 44.63, suggesting a balanced market with potential for both upward and downward movements.
Market Dynamics
The recent 'Bullish Engulfing' pattern is crucial. If the GBP/USD stays above key support levels and the DEMA, it might signal a recovery. However, a break below the 100 EMA could tilt the market towards further bearish trends.
Weekly Pivot Points:
- Resistance Levels: WR3 - 1.28261, WR2 - 1.27709, WR1 - 1.27522.
- Pivot Level: 1.27157.
- Support Levels: WS1 - 1.26970, WS2 - 1.26605, WS3 - 1.26053.
Trading Outlook
On the weekly chart, a Bullish Engulfing pattern emerged post-breakout above 1.2340, indicating bullish dominance. The market trading above the 50 WMA and 100 WMA sets the next bull target at the 2023 high of 1.3141. On the contrary, a sustained drop below 1.1802 raises the likelihood of a significant bearish trend, potentially down to 1.1494.
H1 Intraday Indicator Signals
- Majority (17 out of 21) technical indicators signal 'Sell'; 4 remain Neutral.
- All 18 moving averages signal 'Sell'.
Sentiment Scoreboard
- General sentiment is bullish (57% bulls vs. 43% bears). This bullish trend continues from last week (60% bulls) and the past three days (58% bulls).
Conclusion: Insights for Traders
For Bulls:: A sustained position above key support levels could indicate an ongoing recovery. Keep an eye on the resistance levels for signs of a bullish continuation.
For Bears: Watch for breaks below support levels, especially the 100 EMA, as this could signal further declines.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Read more
The 5%ers Review: Is it a Scam or Legit? Find Out from These Trader Comments
Did you face reduced leverage and hiked fees without any explanation from The 5%ers broker? Do you find The 5%er rules strange for getting a funded account from this prop trading firm? Has the broker closed your trade inappropriately, preventing you from making gains in the forex market? All these allegations have dominated The 5%ers review segment online. Looking at this, the WikiFX team investigated and found some startling comments against the broker. In this article, we have shared those complaints. Read on!
Original 4h
BROKSTOCK Exposed: Traders Report Login Errors, Withdrawal Issues & Incompetent Customer Support
Is your BROKSTOCK trading account full of inefficiencies? Do the recurrent BROKSTOCK login errors prevent you from opening and shorting positions at a favorable price? Has the broker failed to honor your withdrawal requests? Do you face order execution price issues? Has the customer support service failed to resolve your queries? You are not alone! In this BROKSTOCK review article, we have shared some complaints that need a close introspection. Read on to explore them.
Original 5h
OmegaPro Review: Traders Flood Comment Sections with Withdrawal Denials & Scam Complaints
Has your deposit and withdrawal scenario worsened after the initial good experience at OmegaPro, a UK-based forex broker? Does the broker ask you to invest when withdrawing your funds? Did the broker officials trap you with their false promises of compound interest on your deposit? Have you found it impossible to transfer funds from your OmegaPro login to another broker’s account? Do you witness a lack of support when dealing with these unfortunate trading circumstances? These are no longer isolated complaints — they have allegedly become the reason for OmegaPro’s tarnished trust and reputation within the trading community. Read on as we share the OmegaPro review in this article.
Original 7h
Inzo Broker Review 2025: A Complete Look at Features, Costs and User Claims
Inzo Broker presents itself as a modern forex and CFD broker, started in 2021 and registered in Saint Vincent and the Grenadines. At first glance, it offers an attractive package for traders: access to the popular MetaTrader 5 (MT5) and cTrader platforms, different types of accounts for various budget levels, and a wide selection of assets to trade. These features are made to attract both new and experienced traders. However, a closer look shows a big difference between these advertised benefits and the real risks. The broker works under an offshore regulatory system, which gives limited protection to investors. More importantly, Inzo has collected many serious user complaints, especially about withdrawing funds and changing trading conditions unfairly. This mix of weak oversight and serious user claims creates a high-risk situation that potential clients must carefully think about. This review will break down these parts to give a clear, fact-based view.
Original 7h
WikiFX Broker
Latest News
BASF CEO: EU CO₂ Trading Is A "Destruction Mechanism" For European Industry
WikiFXIs Fyntura a Regulated Broker? A Complete 2025 Broker Review
WikiFXZetradex Exposed: Withdrawal Denials, Account Freeze & Bonus Issues Hurt Traders
WikiFXIs Forex Zone Trading Regulated and Licensed?
WikiFXPINAKINE Broker India Review 2025: A Complete Guide to Safety and Services
WikiFXExness Restricted Countries List 2025 Explained
WikiFXIs Uniglobe Markets Legit? A 2025 Simple Guide to Its Safety, Services, and User Warnings
WikiFXIs Inzo Broker Safe or a Scam? An Evidence-Based Analysis for Traders
WikiFXWikiEXPO Dubai 2025 “Welcome Party” Kicks Off Tonight!
WikiFXHe Trusted a WhatsApp Group and Lost RM659,000
WikiFXCurrency Calculator
USD
CNY
Current Rate: 0
Amount
USD
Available
CNY
Calculate