GBPUSD Reacts to Fair Value Gap in Premium Zone

Azeez Mustapha


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Market Analysis – July 9

The GBPUSD pair surged towards the swing high of 1.2860 but encountered resistance at a fair value gap of 1.2810. This resistance has led to a pullback in price on the daily chart. The price rise of GBPUSD was halted just before reaching the swing high of 1.2860. The reason for this pause is evident in the 4-hour time frame.

GBPUSD Key Levels

Demand Levels: 1.2740, 1.2620, 1.2560
Supply Levels: 1.2830, 1.2860, 1.2900

GBPUSD Reacts to Fair Value Gap in Premium ZoneGBPUSD Long-Term Trend: Bullish

On the 4-hour chart, GBPUSD was oversold at the demand level of 1.2620 as seen on trading platforms. Following the formation of a triple bottom reversal pattern, the price began to rise, with the Moving Averages (periods 9 and 21) tracking this momentum. The price rally continued strongly until it was impeded by a fair value gap at 1.2860, which lies within the premium zone of the previous trend.

Upon hitting the fair value gap, the Relative Strength Index (RSI) signaled an overbought market. Consequently, although the rally was robust enough to fill the gap, the price formed an arc and started to decline, falling below the Moving Averages (periods 9 and 21), indicating a downward trend.

GBPUSD Reacts to Fair Value Gap in Premium ZoneGBPUSD Short-Term Trend

In the short term, GBPUSD has dipped into a bullish breaker at 1.2780 on the daily chart. This could restore the bullish momentum, allowing the pair to surpass June’s high of 1.2860. The lower timeframe can therefore be critical when generating reliable forex signals as it helps provide insights and actionable information for effective trading decisions.

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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.

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