GBP/USD Rebounds And Rallies To Level 1.4000 Resistance Zone.

GBP/USD Rebounds And Rallies To Level 1.4000 Resistance Zone.

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 has resumed a strong bullish momentum. The pound rebounded above level 1.3800 and rallied above level 1.3950. The Relative Strength Index period 14 indicates that the pound is in the uptrend zone and it is approaching the overbought region. The pound is retesting the resistance at level 1.4000.

GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and 50-SMAs are sloping upward. The crypto’s price is above the moving averages which indicates a further upward move. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.


GBP/USD Medium-term Trend: Bullish
On the 3-hour chart, the pair has resumed an upward move. On April 14 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 1.3919. From the price action, the pound has risen above the Fibonacci level.

GBP/USD – 3 Hour Chart

4-hour Chart Indicators Reading
The GBP/USD pair is currently above the 80% range of the daily stochastic. The pound is trading in the overbought region. It has a bullish crossover, that is, the 21-day SMA crosses above the 50-day SMA.

General Outlook for GBP/USD
The GBP/USD is in strong uptrend. The pair rallied to the previous high and it is retesting level 1.4000 resistance zones. The Pound is fluctuating below the resistance zone.
You can purchase crypto coins here: Buy Coins


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
Share with other traders!

Author : Azeez Mustapha

Avatar

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