GBP/USD Upside Continuation In Cards!
Login

GBP/USD Upside Continuation In Cards!

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Olimpiu Tuns

Updated:


GBP/USD rallied after reaching 1.3733 today’s low. In the short term, it’s still bullish despite the temporary decline. The Dollar Index is bearish, so it could drop anytime again. Technically, we can still search for long opportunities in GBP/USD.

The USD has taken a hit from the US Pending Home Sales indicator which has registered a 1.8% drop in July even if the specialists have expected a 0.5% growth.

GBP/USD Technical Analysis!

GBP/USD has decreased a little after reaching the median line (ML). The median line was seen as a dynamic resistance. Now, it has found support in the daily pivot point (1.3738) level. Technically, making a valid breakout through the median line (ML) could signal an important upwards movement.

A new higher high after its failure to reach and retest the ascending pitchfork’s lower median line (lml) could signal upside continuation.

Conclusion!

The current decline could be only a temporary one. Jumping and stabilizing above the median line (ML) could activate further growth.

 

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News