{"id":170118,"date":"2020-05-07T07:45:37","date_gmt":"2020-05-07T11:45:37","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170118"},"modified":"2020-05-07T07:39:42","modified_gmt":"2020-05-07T11:39:42","slug":"gbpusd-loses-the-neckline-support","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/gbpusd-loses-the-neckline-support\/","title":{"rendered":"GBPUSD Loses The Neckline Support"},"content":{"rendered":"<div id=\"inves-1105682531\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 7, 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_0705-750x430-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-170140\" src=\"https:\/\/www.countingpips.com\/wp-content\/uploads\/2020\/05\/GBPUSD_0705-750x430-1.png\" alt=\"\" width=\"750\" height=\"430\" srcset=\"https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_0705-750x430-1.png 750w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_0705-750x430-1-160x92.png 160w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_0705-750x430-1-150x86.png 150w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/p>\n<p>The smaller head and shoulders pattern that emerges from the range-bound trading in GBPUSD has been validated.<\/p>\n<p>This potentially signals a move back to the lower end of the range at 1.2277.<\/p>\n<p>Given that GBPUSD has breached the neckline support at 1.2423, the downside could continue.<\/p>\n<p>Any retracements will see the neckline support coming in to act as resistance.<\/p>\n<p>As long as prices remain below this price level, we expect a move lower to 1.2277 support.<\/p><div id=\"inves-2824468459\" 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 smaller head and shoulders pattern that emerges from the range-bound trading in GBPUSD has been validated. This potentially signals a move back to the lower end of the range at 1.2277. Given that GBPUSD has breached the neckline support at 1.2423, the downside could continue. Any retracements will see the neckline support [&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-170118","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170118","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=170118"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170118\/revisions"}],"predecessor-version":[{"id":170142,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170118\/revisions\/170142"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}