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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.