GBPUSD: Bearish Momentum Persists With Key Support on the Level at 1.2824

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

GBPUSD Price Analysis – February 9

The currency pair fell for the third day in a row, closing the week at 1.2885, the lowest since November last year. The pound surrendered to the demand of the dollar, even though data on the UK provided encouraging signs.

Key Levels
Resistance Levels: 1.3700, 1.3514, 1.3172
Support Levels: 1.2977, 1.2582, 1.1958

GBPUSD Long term Trend: Bullish

In a larger structure, the advance from the bottom of 1.1958 is not yet complete, despite the current rollback level of 1.3514. It is expected that this rally will continue later to 1.3700 key resistance levels.

The reaction from there will determine whether it will grow from the level of 1.1958 (low). Or a sustained breakout at 1.3700 could signal a long-term bullish reversal. In any case, at the moment, the trend may remain bullish, while the resistance level 1.2582 has reversed and holds support.

GBPUSD Short term Trend: Bearish

GBPUSD fell to the level of 1.2881, as the correctional decline from the level of 1.3514 resumed. The initial bias is now lowering this week for the forecast of 61.8% from 1.3514 to 1.2900 from 1.3172 at 1.2833 in the first place. The break will aim at 100% forecasting at 1.2600 in the next.

On the other hand, after the level of 1.2977, a slight resistance can primarily change the neutrality of the intraday bias. But a further decline is expected as long as the resistance of 1.3172 persists if restored.

Note: Learn2Trade.com 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

Share with other traders!

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.

Leave a Reply

Your email address will not be published. Required fields are marked *