GBP/USD Continuation Pattern Under Development!

26 October 2021 | Updated: 26 October 2021

The GBP/USD pair has decreased a little but the bias remains bullish. The price action has printed a potential continuation formation. Validating this formation could announce an upside continuation. Still, we’ll have to wait for strong confirmation before considering going long.

As you already know, the Dollar Index escaped from a down channel pattern signaling that the corrective phase is over. Today, the CB Consumer Confidence could be decisive and could have a big impact on the GBP/USD. Worse than expected US data could weaken the greenback and could help the Pound to drag the pair higher.

GBP/USD Technical Analysis!

The GBP/USD pair dropped to test and retest 1.3750 static support after failing to stabilize above the major downtrend line. In the short term, it has developed a triangle pattern. This formation is seen as a continuation one.

Technically, making a valid breakout from this pattern could activate an upside continuation, movement. Failing to reach and retest the uptrend line signaled that the bullish pressure is high.

Conclusion!

Failing to make a new lower low or to stabilize under the weekly pivot point 1.3764 followed by a new higher high could announce an upside continuation.

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results. 

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Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

GBP/USD Declines above Level 1.3941, May Resume an Uptrend

26 October 2021 | Updated: 26 October 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bullish
GBP/USD is in an upward move as price breaks above the moving averages. The uptrend is facing resistance at level 1.3850. The pound is making a fresh uptrend after retracing to level 1.3736. Meanwhile, on October 19 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that the pair will rise to level 1.618 Fibonacci extension or level 1.3982.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The Pound is at level 56 of the Relative Strength period 14. It indicates that the market is in the uptrend zone and above the centerline 50. The currency pair is attempting to resume an upward move.

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair is making a continuous upward movement. However, the uptrend is stalled at level 1.3850. The market has retraced above the 50-day SMA support. Meanwhile, on October 19 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 2.0 Fibonacci extension or level 1.3959.

GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is above the 25% range of the daily stochastic. The market is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. The price bars are above the 50-day SMA. The upward movement will resume as price breaks above the moving averages.

General Outlook for GBP/USD
The currency pair is facing resistance at level 1.3850. The pound is likely to resume upward as it is above the moving averages. The Fibonacci has indicated a further upward movement of the pair. It indicates that the pair will further rise to level 1.3982.

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GBP/USD resumes uptrend, battles the resistance at 1.3800

18 October 2021 | Updated: 18 October 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bullish
Since September 30, GBP/USD has been in an upward move. The bulls have broken above the moving averages but faced rejection at level 1.3800 resistance zones. The pound is retracing to the support above the 50-day SMA. The uptrend will resume if the 50-day SMA support holds. Meanwhile, on October 5 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will rise but reverse at level 1.272 Fibonacci extension or level 1.3723.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 55 of the Relative Strength period 14. It indicates that the market is in the uptrend zone and above the centerline 50. The currency pair is capable of a further upward move.

GBP/USD Medium-term Trend: Bullish
On the 4-Hour chart, the pair is in an upward move. The pound has broken above the moving averages. Further upside is likely. Meanwhile, on October 14 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 1.618 Fibonacci extension or level 1.3835.

4-hour Chart Indicators Reading
The pair is below the 30% range of the daily stochastic. The market is in a bearish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. The Pound has a bullish crossover. That is the 21-day SMA crosses above the 50-day SMA.

General Outlook for GBP/USD
The GBP/USD price has broken above the moving averages as the altcoin resumes an upward move. The pound will rise if the price remains above the moving averages. The Fibonacci tool has indicated a further upward move to level 1.618 Fibonacci extension or level 1.3835.

GBP/USD – 4 Hour Chart

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GBP/USD Faces Rejection at Level 1.3700 Resistance Zone, Resume Selling Pressure

12 October 2021 | Updated: 12 October 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bearish
GBP/USD has been in a downward move since June 11. The Pound has been falling from the high of level 1.4200 to 1.3400. At the low of 1.3400, the Pound corrected upward. The upward correction was stalled at level 1.3700 resistance. Therefore, the selling pressure may resume. Meanwhile, on July 20 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair is likely to fall to level 2.0 Fibonacci extension or level 1.2913.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and 50-SMAs are sloping downward indicating the downtrend. The pair is at level 44 of the Relative Strength period 14. It indicates that the market is in the downtrend zone and below the centerline 50. The currency pair is capable of a further downward move.

GBP/USD Medium-term Trend: Bearish
On the weekly chart, the pair is in a downward move. The currency pair has broken below the moving averages. There is a likelihood of further downward move. Meanwhile, on July 19 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair is likely to fall to level 1.618 Fibonacci extension or level 1.3159.

GBP/USD – Weekly Chart

Weekly Chart Indicators Reading
The pair is above the 30% range of the daily stochastic. The stochastic bands are sloping horizontally. The market is in a bearish momentum. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for GBP/USD
The GBP/USD may further fall on the downside. The pair has broken below the moving averages indicating further downward move. Buyers have an uphill task to push the pair above the moving averages.

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GBPUSD retesting last week’s highs

11 October 2021 | Updated: 11 October 2021

Key Resistance: 1.3670
Key Support: 1.3615 – 1.3520 – 1.3440

The GBPUSD fell 3.60% (500 pips) last month (from high to low. From September lows we have seen an increase of 1.93% (258 pips) to retest the previous broken lows.

This move is a 76.4% pullback of the last impulse down and a 50% pullback of September’s range. A reversal is still not in play and price could definitely break above the 1.3675 since the short term structure is pretty much bullish. In the past 5 trading days, price has printed a new daily high.

We need to look at the USD for some direction here.

The DXY is still holding the previous broken highs on a retest (94.05) and the weekly pivot which gives me somewhat of a bullish bias. To really trigger this move the DXY needs to break with Friday’s highs which would trigger a bull flag breakout.

My idea is to trade this rally on a short position in the GBPUSD at the break of the short term structure.

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GBPUSD bulls pushing at massive key level

5 October 2021 | Updated: 5 October 2021

Key Resistance: 1.3620 – 1.3660 – 1.3700
Key Support: 1.3580

Yesterday on my live show I talked about the massive key level the Pound is trading on against the US Dollar. Let’s talk first about the short to mid term structure in this market.

From mid September highs the GBP has depreciated 3.6% against the USD (high to low move) trading inside of a very structured move with impulses being bearish.

At the end of last month price seemed to have bottomed (at least short term on a pullback), after testing and bouncing from the 1.34 level. In the last 5 days we have seen a 230 pip (1.71%) move to the previous broken lows (August 2021 lows) and a test of the overall bearish structure.

My trade idea here is to play the bull flag break out on a bullish reversal

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GBP/USD Resumes Uptrend but Faces Rejection at Level 1.3650

5 October 2021 | Updated: 5 October 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bearish
GBP/USD has been in a downward move. The currency pair has reached bearish exhaustion as it fell to the low of level 1.3500. On September 29, the pair broke below 1.3500 support and pulled back. Buyers are attempting to resume an uptrend. Meanwhile, on September 23 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair is likely to fall but reverse at level 1.272 Fibonacci extension or level 1.3526.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and 50-SMAs are sloping downward indicating the downtrend. The pair is at level 44 of the Relative Strength period 14. It indicates that the market is in the downtrend zone and below the centerline 50.

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair is in a brief uptrend. The upward move is facing resistance at level 1.3650. Presently, the altcoin is retracing to the downside. Meanwhile, on October 1 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 1.272 Fibonacci extension or level 1.3604.

GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is above the 80% range of the daily stochastic. The stochastic bands are sloping downward. It indicates that the market is in a bearish momentum. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for GBP/USD
The GBP/USD has resumed an upward move. The bearish trend has subsided. The upward move is facing resistance at level 1.3650. The market will retrace to 78.6% Fibonacci retracement or level 1.3604 where it originated.

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GBP/USD Makes Positive Moves but May Face Rejection at Level 1.3750

27 September 2021 | Updated: 27 September 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Bullish
GBP/USD is in an uptrend but the upward move has been interrupted at the high of level 1.3750. After declining to the low of 1.3657, the pair has resumed a fresh uptrend. Today, the market has risen to a high of 1.3729. Meanwhile, on September 23 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 2.618 Fibonacci extension or level 1.3973.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and 50-SMAs are sloping upward indicating the uptrend. The Pound is at level 46 of the Relative Strength period 14. It indicates that the market is in the downtrend zone and below the centerline 50.

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an uptrend. The bullish momentum has broken above the moving averages suggesting a further upward move. On September 27 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement. The retracement indicates that the Pound will rise to level 1.618 Fibonacci extension or level 1.3768.

GBP/USD – 1 Hour Chart

1-hour Chart Indicators Reading
The pair is above the 70% range of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the upward move.

General Outlook for GBP/USD
The GBP/USD has resumed an upward move. The pair is rising to  retest previous high of 1.3950. According to the Fibonacci tool analysis, the Pound will rise to level 2.618 Fibonacci extension.


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GBPUSD’s bull flag after yesterday breakout

24 September 2021 | Updated: 24 September 2021

key support: 1.37

Key Resistance: 1.3740 – 1.38

After yesterday’s BOE day, the GBP surged 1% against the USD to retest the 1.37 level: Aug. 30 – Sept. 8 base. This level is key for further upside on this market.
Yesterday’s 1% rally marks the breakout  of the mid term bearish structure that retested the 1.3900 level an my trade is looking to get in on the new reversal in place.

The flag is printing right below the previous base and I’m targeting the ADR highs and the next key level which is also the 1.618 of the flag and its calculated targets.

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GBP/USD Fluctuates in a Price Range, Unable to Sustain Above Level 1.3900 Resistance

21 September 2021 | Updated: 21 September 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.3400, 1.3200, 1.3000

GBP/USD Price Long-term Trend: Ranging
GBP/USD has been in a range-bound move since June. Yesterday, the currency pair fell to the low of level 1.3642 and resumed upward. The pound is likely to rise to retest level 1.3900 resistance level. This has been the price action since June. The uptrend will resume if the 1.3900 resistance level is breached. Meanwhile, on September 3 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Pound is likely to rise to level 1.618 Fibonacci extensions or level 1.4069 .

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The currency pair is at level 37 of the Relative Strength period 14. It implies that the pair is in the downtrend zone and below the centerline 50. The Pound is also approaching the oversold region. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways.

GBP/USD Medium-term Trend: Bearish
On the 4-hour chart, the pair is in a downward move. The downtrend extended to the low of level 1.3640 before the upward move. The upward move is likely because the Pound has fallen to the oversold region. Meanwhile, on the September 14 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Pound is likely to rise to level 1.618 Fibonacci extensions or level 1.3720.

GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is below the 20% range of the daily stochastic. It has reached the oversold region. Buyers are expected to emerge in the oversold region. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.

General Outlook for GBP/USD
The Pound has continued to be in a range-bound move since June. The currency pair will resume an uptrend if the price breaks above level 1.3900 and the bullish momentum is sustained.

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  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.