{"id":170383,"date":"2020-05-12T09:30:53","date_gmt":"2020-05-12T13:30:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170383"},"modified":"2020-05-12T07:48:10","modified_gmt":"2020-05-12T11:48:10","slug":"gbpusd-recovers-from-the-initial-slump","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/gbpusd-recovers-from-the-initial-slump\/","title":{"rendered":"GBPUSD Recovers From The Initial Slump"},"content":{"rendered":"<div id=\"inves-662713821\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 12, 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_1205-750x430-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-170408\" src=\"https:\/\/www.countingpips.com\/wp-content\/uploads\/2020\/05\/GBPUSD_1205-750x430-1.png\" alt=\"\" width=\"750\" height=\"430\" srcset=\"https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_1205-750x430-1.png 750w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_1205-750x430-1-160x92.png 160w, https:\/\/www.investmacro.com\/forex\/wp-content\/uploads\/2020\/05\/GBPUSD_1205-750x430-1-150x86.png 150w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/a><\/p>\n<p>The pound sterling briefly accelerated the declines intraday. However, price quickly reversed the gains following a test to the lower support level at 1.2277, just a few pips higher.<\/p>\n<p>The sideways range between 1.2485 and 1.2277 will most likely continue for GBPUSD.<\/p>\n<p>Unless there is a strong breakout, we do not see much progress in the near term.<\/p>\n<p>For the moment, the minor resistance level at 1.2423 will be the short term target.<\/p>\n<p><strong>By <\/strong><a href=\"https:\/\/www.orbex.com\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Orbex<\/strong><\/a><\/p><div id=\"inves-3628521428\" 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>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Orbex The pound sterling briefly accelerated the declines intraday. However, price quickly reversed the gains following a test to the lower support level at 1.2277, just a few pips higher. The sideways range between 1.2485 and 1.2277 will most likely continue for GBPUSD. Unless there is a strong breakout, we do not see much [&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-170383","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170383","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=170383"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170383\/revisions"}],"predecessor-version":[{"id":170410,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170383\/revisions\/170410"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}