ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

GBP/USD Sustains Upside Momentum, Reaches the High of 1.4025

Share On Facebook
share on Linkedin
Print

Key Support Levels: 1.3200, 1.3000, 1.2800

Key Resistance Levels:1.4200,1.4400,1.4600

GBP/USD Price Long-term Trend: Bullish
GBP/USD had been in an uptrend since September 2020. The price has been making a series of higher highs and higher lows. Today, the pair is trading at level 1.4025 at the time of writing. The RSI has indicated that price has reached an overbought region of the market. Therefore, the upward move is doubtful in the interim.


GBP/USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and the 50-day SMA are sloping upward indicating the upward move. The pair has risen to level 72 of the Relative Strength Index period 14. This indicates that the Yen is in the uptrend zone and above the centerline 50.

GBP/USD Medium-term Trend: Bullish
On the 4-hour chart, the pair has been in an upward move. On February 19 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The Yen is likely to rise to level 1.618 Fibonacci extensions or the high of level 1.4089.


GBP/USD – 2 Hour Chart

4-hour Chart Indicators Reading
The GBP/USD pair is currently above the 40% range of the daily stochastic. It indicates that the pair is in a bullish momentum. . The SMAs are sloping upward indicating the uptrend.

General Outlook for GBP/USD
The GBP/USD is in an uptrend. The price has been consistently rising on the upside. According to the Fibonacci tool analysis, the market will rise to level 1.618 Fibonacci retracement level.

 

Source: https://learn2.trade

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: 1-888-992-3836 | help@advfn.com