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.
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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.