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
- 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
- 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.
