{"id":293351,"date":"2020-08-25T19:13:28","date_gmt":"2020-08-25T09:13:28","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/25cotd\/"},"modified":"2021-02-19T12:13:32","modified_gmt":"2021-02-19T01:13:32","slug":"25cotd","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/","title":{"rendered":"Chart of the Day: Tuesday 25th August"},"content":{"rendered":"
GBPUSD – Daily\u00a0<\/strong><\/h5>\n

\"\"<\/a><\/p>\n

\"\"<\/h5>\n
GBPUSD (Daily)<\/strong><\/h5>\n

For today’s Chart of The Day, we are looking at Cable on the daily time frame. After several days of tight consolidation following an impulsive move higher, GBPUSD forms a bullish flag candle pattern and could be about to break higher.<\/p>\n

The impulsive move mentioned occurred last month in July when the price rose from 1.28 to the 1.31 region, and within this movement, we have a few clues as to what may be driving this market from a technical perspective.<\/p>\n

Firstly, it’s worth highlighting the significance of the 1.28 level in terms of key support for the pair. Before the price fell through the floor back in March, this level acted as a strong base for Cable and became a significant 61.8% retracement zone from the Nov 2019 high of 1.35 and the most recent low in March of 1.14. Initially, this area acted as resistance but can now be considered a line in the sand for GBPUSD. Should 1.28 be tested again and fail, then the price may tend to drift even lower.<\/p>\n

Now with the critical support highlighted, we can look at the current bullish activity and discuss the bullish flag formation. It appears buyers in this market are still firmly in the driving seat and waiting for an opportunity to push higher. We see sizable resistance situated at 1.32, but I suspect a confident break above could see the fruits of this latest pattern test targets towards the 1.35 mark upwards.<\/p>\n

Much will depend on just how much of a risk appetite Sterling buyers have in this current environment in the coming days. Still, given how much Dollar volatility we’ve seen of late, the opportunity that buyers are waiting for could be just around the corner.<\/p>\n

By Adam Taylor CTEe<\/strong><\/p>\n

.@<\/a>adamt_trading<\/a><\/p>\n

Sources: Go Markets, Meta Trader 5, TradingView, Bloomberg<\/p>\n

Disclaimer: The articles are from GO Markets analysts, \u00a0based on their independent analysis or personal experiences. Views or opinions or trading styles expressed are of their own; \u00a0should not be taken as either representative of or shared by GO Markets.\u00a0 Advice (if any), \u00a0are of a \u2018general\u2019 nature and not based on your personal objectives, financial situation or needs.\u00a0 You should therefore consider how appropriate the advice (if any) is to your objectives, financial situation and needs, before acting on the advice.\u00a0 If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.<\/p>\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

GBPUSD – Daily\u00a0 GBPUSD (Daily) For today’s Chart of The Day, we are looking at Cable on the daily time frame. After several days of tight consolidation following an impulsive move higher, GBPUSD forms a bullish flag candle pattern and could be about to break higher. The impulsive move mentioned occurred last month in July […]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2871,129],"tags":[],"yoast_head":"\nChart of the Day: Tuesday 25th August - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart of the Day: Tuesday 25th August - GO Markets\" \/>\n<meta property=\"og:description\" content=\"GBPUSD – Daily\u00a0 GBPUSD (Daily) For today’s Chart of The Day, we are looking at Cable on the daily time frame. After several days of tight consolidation following an impulsive move higher, GBPUSD forms a bullish flag candle pattern and could be about to break higher. The impulsive move mentioned occurred last month in July […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/\" \/>\n<meta property=\"og:site_name\" content=\"GO Markets\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-25T09:13:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-19T01:13:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/GBP2-1024x544.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adam Taylor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.gomarkets.com\/#website\",\"url\":\"https:\/\/www.gomarkets.com\/\",\"name\":\"GO Markets\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.gomarkets.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/GBP2-1024x544.png\",\"contentUrl\":\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/GBP2-1024x544.png\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#webpage\",\"url\":\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/\",\"name\":\"Chart of the Day: Tuesday 25th August - GO Markets\",\"isPartOf\":{\"@id\":\"https:\/\/www.gomarkets.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#primaryimage\"},\"datePublished\":\"2020-08-25T09:13:28+00:00\",\"dateModified\":\"2021-02-19T01:13:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.gomarkets.com\/#\/schema\/person\/446d9a494ba013c192a3669cbda1bd76\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.gomarkets.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chart of the Day: Tuesday 25th August\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.gomarkets.com\/#\/schema\/person\/446d9a494ba013c192a3669cbda1bd76\",\"name\":\"Adam Taylor\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.gomarkets.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3f8a2662eef9486f94f09330025ec14f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3f8a2662eef9486f94f09330025ec14f?s=96&d=mm&r=g\",\"caption\":\"Adam Taylor\"},\"url\":\"https:\/\/www.gomarkets.com\/en\/author\/adamt\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chart of the Day: Tuesday 25th August - GO Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/","og_locale":"en_US","og_type":"article","og_title":"Chart of the Day: Tuesday 25th August - GO Markets","og_description":"GBPUSD – Daily\u00a0 GBPUSD (Daily) For today’s Chart of The Day, we are looking at Cable on the daily time frame. After several days of tight consolidation following an impulsive move higher, GBPUSD forms a bullish flag candle pattern and could be about to break higher. The impulsive move mentioned occurred last month in July […]","og_url":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/","og_site_name":"GO Markets","article_published_time":"2020-08-25T09:13:28+00:00","article_modified_time":"2021-02-19T01:13:32+00:00","og_image":[{"url":"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/GBP2-1024x544.png"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Adam Taylor","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/www.gomarkets.com\/#website","url":"https:\/\/www.gomarkets.com\/","name":"GO Markets","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.gomarkets.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#primaryimage","inLanguage":"en-US","url":"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/GBP2-1024x544.png","contentUrl":"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2020\/08\/GBP2-1024x544.png"},{"@type":"WebPage","@id":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#webpage","url":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/","name":"Chart of the Day: Tuesday 25th August - GO Markets","isPartOf":{"@id":"https:\/\/www.gomarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#primaryimage"},"datePublished":"2020-08-25T09:13:28+00:00","dateModified":"2021-02-19T01:13:32+00:00","author":{"@id":"https:\/\/www.gomarkets.com\/#\/schema\/person\/446d9a494ba013c192a3669cbda1bd76"},"breadcrumb":{"@id":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.gomarkets.com\/en\/daily-news\/25cotd\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.gomarkets.com\/en\/"},{"@type":"ListItem","position":2,"name":"Chart of the Day: Tuesday 25th August"}]},{"@type":"Person","@id":"https:\/\/www.gomarkets.com\/#\/schema\/person\/446d9a494ba013c192a3669cbda1bd76","name":"Adam Taylor","image":{"@type":"ImageObject","@id":"https:\/\/www.gomarkets.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/3f8a2662eef9486f94f09330025ec14f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3f8a2662eef9486f94f09330025ec14f?s=96&d=mm&r=g","caption":"Adam Taylor"},"url":"https:\/\/www.gomarkets.com\/en\/author\/adamt\/"}]}},"_links":{"self":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/293351"}],"collection":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/comments?post=293351"}],"version-history":[{"count":0,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/293351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/media?parent=293351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/categories?post=293351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/tags?post=293351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}