GBPUSD Upside Potential Past 1.3700 Level Stays Optimistic Amid Poor UK Data

GBPUSD Upside Potential Past 1.3700 Level Stays Optimistic Amid Poor UK Data

GBPUSD Price Analysis – January 24

Last week the GBPUSD pair maintained a positive tone and in the previous session, sellers made a fresh attempt to continue selling below 1.3700. The pound was hit by poor UK data as retail sales rose a modest 0.3% mom in December, well below the 1.2% anticipated.

Key Levels
Resistance Levels: 1.4000, 1.3800, 1.3700
Support Levels: 1.3624, 1.3519, 1.3451
GBPUSD Long term Trend: Ranging
GBPUSD is currently trying to find support on the 5 daily moving average around 1.3650 after a reversal from 1.3736 prior sessions high. The rising moving average of 5 continues to support intact bullish price action. However, a convincing breach of the mentioned support can still accelerate the fall to the support zone of 1.3624.

In the long term, the focus remains on the growth side. A sustained breach beyond may validate a long-term bottom at 1.1409. An increase from there can be either a correction or the start of a long-term uptrend. In any event, the next aim is a rebound from 2.1161 to 1.1409 at 1.4000.
GBPUSD Short term Trend: Ranging
The GBPUSD pair rose from the 1.3519 level in the past week and broke the 1.3700 level. But since a temporary high has formed after the initial barrier at 1.3746, the initial bias is bullish initially this week. On the other hand, a break below 1.3624 may aim for a reversal trend from 1.3746 to 1.3451 from 1.2675 to 1.3177 levels.

In such a scenario, short-term sentiment may stay ranging as long as support level 1.3177 remains intact, in a steeper pullback scenario. Meanwhile, some subsequent sell-offs could leave the GBPUSD vulnerable to further slide beneath 1.3500 towards the 1.3300 congestion zone.

NoteLearn2Trade.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

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GBPUSD rallies after retesting the lows

GBPUSD rallies after retesting the lows

The GU retested and rejected a big key level and the bottom of the current structure which happens to be a a bullish flag.

The DXY rallied to the 90.70 level and reversed as predicted on today’s video.

This was our sell level for the USD which will push price in the GBPUSD up.

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GBPUSD Grapple’s With Upside Momentum in a Bid To Recover the 1.3600 Level

GBPUSD Grapple’s With Upside Momentum in a Bid To Recover the 1.3600 Level

GBPUSD Price Analysis – January 10

GBPUSD continues to grapple with upside momentum in a bid to recover the 1.3600 level while the pair underperformed in the prior week as England returned to a March 2020 style lockdown. The UK entered a harsh lockdown to prevent hospitals from collapsing due to the new virus strain.

Key Levels
Resistance Levels: 1.3750, 1.3700, 1.3624
Support Levels: 1.3482, 1.3400, 1.3313
GBPUSD Long term Trend: Bullish
GBPUSD hit fresh highs of 1.3703 in the previous week, maintaining a moderate bullish position on the daily chart. The pair is ranging between its daily moving average of 5 and 13 while restricting the price movement with a narrow path.

Thus, from a technical point of view, the GBPUSD bullish sentiment is maintained as the forecast will be upwards for the resistance level of 1.3800 and above. Nonetheless, a deviation from the 1.3514 will maintain a medium and long-term bearish tone for another decline below 1.1409 in a later cycle.
GBPUSD Short term Trend: Ranging
The GBPUSD pair plunged from the 1.3700 level last week and reached the 1.3532 low level. But since a high has formed, the initial bias is neutral initially this week. On the other hand, a breakout of 1.3624 may aim for a 61.8% trend from 1.1409 to 1.3482 from 1.2675 to 1.3956 next.

In such a scenario, short-term sentiment may stay bullish as long as support level 1.3177 remains intact, in a steeper pullback scenario. Meanwhile, some subsequent sell-offs could leave the GBPUSD vulnerable to further slide beneath 1.3500 towards the 1.3400 congestion zone.

NoteLearn2Trade.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

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GBPUSD heavy at yearly resistance

GBPUSD heavy at yearly resistance

The GU is testing and rejecting a massive level in historic price action. The 1.3670-1.3680 is the lows of February 2018, level that after price broke to the downside the Pound went on a -16.80% move (-2300 pips) until it bounced from the 1.14 level back in March 2020.

Prime Minister Boris Johnson just commented on heavier measures being implemented:

UK PM JOHNSON SAYS WE HAVE A SURGING EPIDEMIC

UK PM JOHNSON SAYS: WE WILL HAVE TO TAKE TOUGHER MEASURES – SKY NEWS

The current move in the DXY has not influenced or triggered a rally here which points to heavy Pound selling at this level. Technically speaking short term bullish targets have been hit and it confluences with a 4th retest of the bullish structure whilst printing a major bearish divergence

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GBPUSD with upside potential

GBPUSD with upside potential

The Pound-Dollar has rejected a key level (1.3440) and started to rally after breaking out of a reversal pattern. We are still inside a short term bearish structure (orange) and sellers are in control right now below the next key level (1.3525).

If buyers break with this key level the immediate bullish structure would be validated and buys would be in play.


The no trade zone below this level and above the POC is where this battle is taking place. Wait for a definitive move to get in.

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Author : Orlando Gutierrez