Register
Demo
Contacts
 

Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Technical analysis on GBPUSD for September 28th, 2023.
08:46 2023-09-28 UTC--4
Exchange Rates analysis

Red lines- bearish channel

Blue lines- Fibonacci retracement levels

GBPUSD is trading around 1.2199. Technically trend remains bearish. Price continues making lower lows and lower highs inside the red downward sloping channel. The pair briefly broke below the bearish channel yesterday and today is bouncing higher. In the near term trend the chances of a bounce higher have increased. The RSI has reached oversold levels in the Daily chart and current market conditions justify a bounce higher. Our first bounce target is the 38% Fibonacci retracement at 1.2350. As long as price remains inside the red channel, bears will remain in control of the trend. There is no bullish divergence in the daily chart, therefore our primary scenario remains bearish, with small bounces towards 1.23.

Back to the list

World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2025 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.