GBP/USD forecast - page 74
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GBP/USD continues to rise today, but is facing the 1.3950 barrier after the doble top from last week. I think the pair is ahead of consolidation before a move towards the psycological 1.14 level.
Pound seems to be going strong. Watching from the sidelines for now.
The pair broke out above 1.4000 today and although the pair retraced below that level the move to the upside will probably continue.
Cable cracked 1.40, but consolidation is expected before next upleg, according to indicators on the H4 which are yet located within positive territory, but are losing upward strength.
GBPUSD 1hr chart, it seem right now 1.41185 new high of the day. If GBPUSD successfully move above this point next resistance level will be 1.43110.
GBPUSD weekly chart with Ichimoku system :
Theory of arc
GBP/USD reached a high at 1.4240 today. Even if there is some retracement soon next target to the upside will probably be at 1.4300.
The pound recorded a neutral session against the dollar on Tuesday. Although early bearish sentiment prevailed, the opening price was close to that of closing - 1.3983 and 1.3996. The difference between the highest and lowest values ??for the day was not 111 pips. Short-term expectations remain in favor of the British currency.
Key levels to watch for:
Support: 1.3737; 1.3522;
Resistance: 1.4034; 1.4164;
GBP/USD is very bullish and the move to the upside will likely continue. Next target is likely around 1.4350.