GBPUSD breaking 1.3980: Buys in play

GBPUSD breaking 1.3980: Buys in play

Key Support: 1.3940
Key Resistance: 1.3980 – 1.4080

The GBPUSD has rallied 3% (407 pips) from last week’s lows around the 1.3560 level. This base / key level is where we saw buyers jump in at the beginning of February pushing price up about 5.07% (687 pips) to test the massive 1.42 level.

Last week. buyers jump in again at this exact same level and now price is trading inside a very structured bullish move.

we haven’t seen any real deep pullbacks in this move which suggests, with the USD dipping, a very strong Pound. The deepest pullback was just 0.59%.

Right now, the GBP’s upside is being capped by the 1.3980 level (yesterday’s and today’s highs) whilst creating higher lows. This trade is more USD driven in the sense that we are looking at further downside after the break of the reversal pattern and the extremely dovish press conference yesterday from Chairman Powell. The main topic was inflation and most importantly, the non tapering of the current asset purchasing program.

All of this is as bearish as it gets for the USD.

Our buy stops on the Pound-Us Dollar are aimed at a break of today’s lows on the USD come pre market volume.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Orlando Gutierrez

GBP/USD Resumes Upward Move, Faces Rejection at Level 1.3850

GBP/USD Resumes Upward Move, Faces Rejection at Level 1.3850

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 pair‘s downward move has reached bearish exhaustion. The pound has resumed an upward move since July 21. The price has broken the 21-day SMA. A break above the moving averages will propel the pair to rise. Meanwhile, on June 21 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Pound is likely to fall to level 1.618 Fibonacci extension or level 1.3544. From the price action, the GBP/USD fell to 1.618 Fibonacci extension or level 1.3571.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The Pound is at level 49 of the Relative Strength period 14. It implies that there is a balance between supply and demand. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an upward move. The pound is trading above level 1.3800. The market is presently facing resistance at the recent high. On July 22 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair is likely to rise but reverse at level 1.272 Fibonacci extension or level 1.3842.

GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The Pound is above the 80% range of the daily stochastic. The pair has reached the overbought region of the market. Sellers are expected to emerge. The 21-day and 50-day SMAs are sloping downward indicating the downward move. The price bars are above the moving averages which indicate further upward move.

General Outlook for GBP/USD
GBP/USD pair has resumed upward move. The Pound has risen to level 1.3820. The upward move is facing resistance at level 1.3845. According to the daily stochastic, the Pound has reached the overbought region of the market. Further upward move is doubtful.

You can purchase crypto coins here. Buy Tokens

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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

GBP/USD Resumes Its Upwards Movement!

GBP/USD Resumes Its Upwards Movement!

GBP/USD is strongly bullish today as the DXY drops. The pair has decreased a little in the short term, but only to retest the immediate support levels. Making a new higher high could really announce further growth.

The US New Home Sales indicator will be released today and is expected at 800K higher versus 769K in the former reading period. Also, tomorrow, the CB Consumer Confidence could bring high action on this pair. Some poor US data ahead of the FOMC could lead the greenback towards lower levels.

GBP/USD H4 Chart Technical Analysis!

GBP/USD has managed to sttabilize above the ascending pitchfork’s median line (ML). A new higher high could indicate upside continuation. Now is pressuring the 61.8% level, the 1.3787, and the upside sliding parallel line.

Closing above these upside obstacles may offer us a great buying opportunity. GBP/USD has registered an aggressive breakout through the minor downtrend line announcing strong buyers.

Conclusion!

Registering a fresh new high could activate strong upside movement in the short term. The next major upside target is seen at the ascending pitchfork’s upper median line (UML).

 

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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Olimpiu Tuns

Olimpiu Tuns

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.

GPBUSD Has Created an Inverted Cup and Handle Pattern to Go Lower

GPBUSD Has Created an Inverted Cup and Handle Pattern to Go Lower

GBPUSD Price Analysis – July 16

GBPUSD has created an inverted cup and handle pattern and the market is set to fall. After a sluggish start this year, bulls came alive and infused momentum into the market. The market, therefore, began an upsurge on the 5th of February 2021, springing up from the 1.36600 support. The market made it to the 1.42300 resistance on the 24th of February 2021, at which point the price was rejected. From that point, GBPUSD fell into a mini consolidation that lasted for 17 trading days. The price ranged between the 1.40000 resistance and the 1.38000 support. When the 1.38000 support eventually gave way, the price fell further to form a double-bottom pattern on the next support at 1.36600. This pushed the market up to create the inverted cup and handle pattern.


GBPUSD Key Zones

Resistance Zones: 1.42300, 1.40000
Support Zones: 1.38000, 1.36600

GBPUSD has createdGBPUSD Long Term Trend: Bearish

This formation was created over 50 trading days. The formation is sandwiched between the 1.4230 resistance and the 1.3800 support level. These key levels have been very influential in determining the direction of GBPUSD. The price closed yesterday having crashed into the lower border of the handle, it is expected that lower border will soon give way for bearish moves.

The MA period 9 (Moving Average) has switched positions from above the market to below the market to lift the pattern’s handle before price falls. The Stochastic Oscillator likewise is showing that the market is experiencing a pullback in the pattern’s handle.

GBPUSD has createdGBPUSD Short Term Trend: Bearish

The market can be seen undulating through an uptrend channel which is the handle of the cup. Currently, price is falling to the lower border of the channel. GBPUSD is expected to break lower from this channel in accordance with the cup and handle reversal pattern.

You can purchase crypto coins here: Buy coins 

Note: Learn2Trade.com 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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

GBP Brushes Off Job Data, Dollar Declines Versus Yen and Franc

GBP Brushes Off Job Data, Dollar Declines Versus Yen and Franc

Today, GBP pays little regard to employment data, which has shown modest signs of improvement. The dollar is significantly weaker against the Swiss Franc and the Japanese Yen, but markets are pretty stable elsewhere.  The Canadian dollar likewise shrugged off the Bank of Canada’s tapering announcement from yesterday. For the next changes in currencies, the general focus will shift to US job data and stock market movements.

According to the Office for National Statistics (ONS), the UK’s official unemployment rate rose to 4.8 percent in May, up from 4.7 percent in April and 4.7 percent projected, although the claimant count change showed a huge decline last month.

The number of people receiving unemployment benefits fell by 114.8K in June, compared to -92.6K the previous month. The claimant count rate was 5.8%, down from 6.2 percent the previous year. In May, the UK’s average weekly earnings, without bonuses, reached +6.6 percent 3Mo/YoY, compared to +5.7 percent the previous month and +6.6 percent predicted, while the gauge including bonuses was +7.3 percent 3Mo/YoY in March, compared to +5.7 percent the previous month and +7.2 percent anticipated.

GBP Struggles To Keep Its Ground Against the Dollar’s Surge

GBP is trading below the 1.3850 price zone, down from recent highs reached after BOE Governor Saunders advocated for reducing short-term economic support. The dollar appreciates as rates fall and markets recover from recent lows.

In the GBP/USD, range trading continues, and the intraday bias remains neutral for the time being. On the downside, a break of 1.3730 will resume the decline from 1.4248, as the third leg of the consolidation pattern from 1.4240, to 1.3668 support and maybe lower levels. On the upside, a breach of 1.4000 will revert the bias to the upward, allowing for a retesting of the 1.4240/8 resistance zone.

Cable has completely reversed the gains made as a result of Bank of England member Michael Saunders’ hawkish remarks. In opposition to Governor Andrew Bailey, Saunders advocated for ending the BOE’s bond-buying program and eventually boosting interest rates. His comments come after the UK announced a 7.3 percent YoY pay increase in May, which could lead to inflationary pressures in the future.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

GBP/USD Imminent Upside Breakout!

GBP/USD Imminent Upside Breakout!

GBP/USD rallied and now it stands at 1.3870 level higher versus 1.3813 today’s low. It has increased as much as the 1.3898 level but it has slipped lower as the US Dollar Index has rebounded.

The Pound has jumped higher even if the Unemployment Rate increased to 4.8% from 4.7%. The UK Claimant Count Change and the Average Earnings Index have reported better than expected data.

The US is to release the Unemployment Claims which is expected to drop from 373K to 350K, while Industrial Production could register a 0.6% growth.

GBP/USD H4 Technical Analysis!

GBP/USD has found support on the Falling Wedge’s resistance again and now it tries to jump higher. The bias is bullish as long it stays above the outside sliding line (SL).

 

Staying within the ascending pitchfork’s body and closing above the 61.8% retracement level could really indicate further growth. Escaping from the chart pattern signals that we may have an upwards movement.

Conclusion!

GBP/USD could develop an important growth if it jumps and stabilizes above the 61.8% retracement level, above 1.3898 today’s high.

 

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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Olimpiu Tuns

Olimpiu Tuns

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 Upside Still In Cards

GBP/USD Upside Still In Cards

GBP/USD dropped significantly today but it maintains a bullish bias. It has escaped from a reversal pattern, so it is still expected to increase. DXY has rebounded, helping the USD to increase a little versus its rivals.

The US CPI is expected to increase by 0.5% in June after a 0.6% growth in May. Moreover, the Core CPI could increase by 0.4% versus 0.7% growth in the previous reporting period.

GBP/USD H4 Chart Technical Analysis

GBP/USD has found temporary resistance at the 61.8% retracement level and now is almost to reach the weekly pivot point (1.3849). Technically, a temporary decline was expected after escaping from the Falling Wedge pattern.

Staying above the pivot point and jumping above the 61.8% level could activate an upwards movement. Making a new higher high brings a new long opportunity.

The bullish scenario could be invalidated if the pair drops and stabilizes under the 1.3838 yesterday’s low.

Conclusion!

A new higher high could really validate a potential growth towards 1.4000 psychological level.

 

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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Olimpiu Tuns

Olimpiu Tuns

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 May Continue Selling Pressure as It Faces Rejection at Level 1.3900

GBP/USD May Continue Selling Pressure as It Faces Rejection at Level 1.3900

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 pair is in a downtrend. On June 18, the currency pair fell to leve 1.3800 and corrected upward. The upward correction was terminated at level 1.4000 signaling the resumption of a downward move. Meanwhile, on June 21 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Pound is likely to fall to level 1.618 Fibonacci extension or level 1.3512.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The Pound is at level 48 of the Relative Strength period 14. It implies that the Pound is in the midpoint of the centerline. That is there is a balance between support and demand. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend.

GBP/USD Medium-term Trend: Bearish
On the 4-hour chart, the pair is in a downward move. The selling pressure resumes after rejection at level 1.4000. The downtrend will continue as the market reaches the overbought region. On June 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 1.3456.

GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The Pound is below the 80% range of the daily stochastic. The Pound has reached the overbought region. The 21-day and 50-day SMAs are sloping downward indicating the downward move. The price bars are below the moving averages which indicate further downsides.

General Outlook for GBP/USD
GBP/USD pair is likely to continue its downward move. The upward correction is facing rejection at level 1.3900. According to the Fibonacci tool analysis, the Pound will reach level 1.618 Fibonacci extension or level 1.3456


You can purchase crypto coins here. Buy Tokens


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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

GBP/USD Faces Rejection at Level 1.3900, Resumes Selling Pressure

GBP/USD Faces Rejection at Level 1.3900, Resumes Selling Pressure

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 pair has fallen to level 1.3740 and pulled back. The selling pressure resumes has resumed after the Pound was repelled at 1.3900. Meanwhile, on June 21 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the Pound is likely to fall to level 1.618 Fibonacci extension or level 1.3545.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The Pound is at level 38 of the Relative Strength period 14. It implies that the market is approaching the oversold region. The Pound is in the downtrend zone and below the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend.

GBP/USD Medium-term Trend: Bearish
On the 4-hour chart, the pair was consolidating below the resistance at level 1.4200 before the resumption of a downward move. On June 20 downtrend a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair is likely to fall to level 1.618 Fibonacci extension or level 1 3463.

GBP/USD – 4 Hour Chart

4-hour Chart Indicators Reading
The Pound is below the 80% range of the daily stochastic. The Pound is in a bearish momentum. The 21-day and 50-day SMAs are sloping downward indicating the downward move. The price bars are below the moving averages which indicate further downsides.


General Outlook for GBP/USD
GBP/USD pair is in a downward move. The moving averages have a bearish crossover as the 21-day SMA crosses over the 50-day SMA which indicates a sell signal. According to the Fibonacci tool analysis, the Pound will reach level 1.618 Fibonacci extension or level 1.3545


You can purchase crypto coins here. Buy Tokens


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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.

GBP/USD Double Bottom Pattern!

GBP/USD Double Bottom Pattern!

GBP/USD has found strong support in the short term and now it looks to trade higher. The Pound is bullish right now even if the UK’s data have come in mixed earlier. The Current Account was reported at -12.8B higher versus -13.9B expected and compared to -26.3B in the previous reporting period.

The Final GDP dropped by 1.6% more versus 1.5% expected, while the Revised Business Investment dropped by 10.7% versus 11.9% estimates. The US ADP Non-Farm Employment Change, Chicago PMI, and the Pending Home Sales could shake the pair and could bring strong movements.

GBP/USD H1 Technical Analysis!

GBP/USD has found support on the descending pitchfork’s lower median line (lml).  Now is located above the daily pivot point (1.3842) level.

Making a new higher high, closing above 1.3860 could activate a potential Double Bottom pattern and could bring a strong rebound.

Conclusion!

GBP/USD has found strong support and now it could turn to the upside. A new higher high could indicate a potential growth towards the former highs.

 

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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 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

Author : Olimpiu Tuns

Olimpiu Tuns

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.