GBPUSD Sellers Lose Grip in The Market
Login

GBPUSD Sellers Lose Grip in The Market

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

GBPUSD Analysis – Price Held Back at 1.26030 

GBPUSD sellers lose grip as buyers defend the 1.26030 key level. The pair has been showing strong bullish momentum since March when the bulls broke through the 1.18000 key level.

This bullish liquidity propelled the pair forward, pushing past various resistance levels as buyers defended the 1.26030 key level. However, the sellers couldn’t maintain their selling momentum, and the buyers were able to regain control, pushing the pair above the 1.26030 key level.

This break-out suggests that the bullish sentiment is still strong and that the buyers are ready to defend the 1.26030 level.

GBPUSD Key Levels

Resistance Levels: 1.30020, 1.26030
Support Levels: 1.18000, 1.11600

GBPUSD Sellers Lose Grip in The MarketIn the past few days, a pullback was observed to the 1.23150 key level before the buyers were able to bounce back and break through the 1.26030 key level. This suggests that the buyers are looking to maintain their hold on the pair and are likely to continue pushing the pair higher.

Shortly, the GBPUSD pair may be looking at further breakouts as buyers continue to defend the 1.26030 key level. The bullish sentiment is likely to remain strong, so traders should look out for more opportunities to enter the market.

However, if the sellers regain control and push the pair back below the 1.26030 key level, then the pair may be looking at a possible pullback. The recent sell-back of the 1.26030 key level has left buyers in a precarious situation.

Despite the drop in the buyers’ guard, the Bulls are already making a stand and defending the key level. This could mean that the sell-back is coming to an end as buyers now look to reclaim the 1.26030 level.
GBPUSD Sellers Lose Grip in The Market

Market Expectation

On the 4-hour chart, the bulls are regaining their momentum and are looking to make a move toward the 1.30020 significant zone, where the sellers are starting to loosen their grip. This could be the perfect opportunity for the buyers to take back control of the market.

You can purchase Lucky Block here.  Buy LBLOCK

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