{"id":170048,"date":"2020-05-06T08:45:52","date_gmt":"2020-05-06T12:45:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170048"},"modified":"2020-05-06T07:11:07","modified_gmt":"2020-05-06T11:11:07","slug":"gbpusd-consolidates-as-downside-bias-builds-up","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/gbpusd-consolidates-as-downside-bias-builds-up\/","title":{"rendered":"GBPUSD Consolidates As Downside Bias Builds Up"},"content":{"rendered":"<div id=\"inves-3729812690\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 6, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <\/strong><a href=\"https:\/\/www.orbex.com\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Orbex<\/strong><\/a><\/p>\n<p><a href=\"https:\/\/www.countingpips.com\/wp-content\/uploads\/2020\/05\/GBPUSD_0605-750x430-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-170068\" src=\"https:\/\/www.countingpips.com\/wp-content\/uploads\/2020\/05\/GBPUSD_0605-750x430-1.png\" alt=\"\" width=\"750\" height=\"430\" srcset=\"https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_0605-750x430-1.png 750w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_0605-750x430-1-160x92.png 160w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_0605-750x430-1-150x86.png 150w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/p>\n<p>The British pound sterling is caught range-bound within the levels of 1.2485 and 1.2277.<\/p>\n<p>However, amid this consolidation, price action is posting a bearish head and shoulders pattern as the minor neckline support level at 1.2423 holds prices from declining further.<\/p>\n<p>If the current move higher fails to breakout convincingly, then a retest of the neckline support at 1.2423 could see a bearish move.<\/p>\n<p>This puts the downside target to the lower end of the range at 1.2277.<\/p>\n<p>Despite the decline, GBPUSD will likely remain range-bound within the said levels.<\/p><div id=\"inves-3535363283\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong>By <\/strong><a href=\"https:\/\/www.orbex.com\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Orbex<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Orbex The British pound sterling is caught range-bound within the levels of 1.2485 and 1.2277. However, amid this consolidation, price action is posting a bearish head and shoulders pattern as the minor neckline support level at 1.2423 holds prices from declining further. If the current move higher fails to breakout convincingly, then a retest [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-170048","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=170048"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170048\/revisions"}],"predecessor-version":[{"id":170070,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170048\/revisions\/170070"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}