empty
03.08.2021 10:26 PM
GBP/USD Retreat Is Over!

GBP/USD has decreased a little in the short term but it is likely to be a temporary decline. Technically, a temporary decline was somehow expected after the most recent rally. The pair has come back down to test and retest immediate support before jumping higher again.

It's very important to understand what will really happen with the US Dollar Index in the short term. its drop after the current rebound could force the US dollar to decline versus its rivals. USD is still under pressure even if the US Factory Orders have increased by 1.5% versus 1.0% expected.

Tomorrow, the US ADP Non-Farm Employment Change and the ISM Services PMI could bring a clear direction ahead of the US NFP.

GBP/USD Upside Continuation!

This image is no longer relevant

The price is located right below the ascending pitchfork's upper median line (UML). It has found support on the weekly pivot point 1.3875 level. A valid breakout above the upper median line (UML) could really signal further growth.

Technically, only a new lower low, a drop below 1.3873, may signal a deeper decline and could invalidate the upside scenario.

Trading Conclusion!

A further decline will be activated by a drop and stabilization below the 1.3873 level.

On the other hand, a new higher high, closing above 1.3938 could signal further growth towards 1.40 and 1.41 levels.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on April 29. Review of Yesterday's Forex Trades

The test of the 143.21 price level coincided with the MACD indicator just beginning to move downward from the zero line, confirming a correct entry point for selling the dollar

Jakub Novak 08:22 2025-04-29 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 29. Review of Yesterday's Forex Trades

The test of the 1.3352 price level occurred when the MACD indicator had already moved significantly above the zero line, limiting the pair's upside potential. For this reason

Jakub Novak 08:22 2025-04-29 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 29. Review of Yesterday's Forex Trades

The test of the 1.1371 price level in the second half of the day coincided with the MACD indicator just beginning to move upward from the zero line, confirming

Jakub Novak 08:22 2025-04-29 UTC+2

Intraday Strategies for Beginner Traders on April 29

The Pound Posted Strong Growth, Updating Monthly Highs, While the Euro Did Not Show the Same Strong Confidence Yesterday, traders shifted their focus to new statements concerning trade negotiations

Miroslaw Bawulski 07:18 2025-04-29 UTC+2

USDJPY: Simple Trading Tips for Beginner Traders for April 28th (U.S. Session)

There were no tests of the designated levels in the first half of the day, so I stayed out of the market. In the second half of the day, there

Jakub Novak 19:36 2025-04-28 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders for April 28th (U.S. Session)

Trade Analysis and Tips for Trading the British Pound The test of the 1.3309 level occurred when the MACD indicator had just started to move downward from the zero mark

Jakub Novak 19:26 2025-04-28 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 28th (U.S. Session)

Trade Analysis and Tips for Trading the Euro The test of the 1.1341 price level occurred when the MACD indicator had already moved significantly below the zero line, limiting

Jakub Novak 19:23 2025-04-28 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on April 28. Review of Yesterday's Forex Trades

The price test at 143.75 occurred when the MACD indicator had already moved significantly above the zero line, which, in my view, limited the pair's upside potential. For this reason

Jakub Novak 08:19 2025-04-28 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 28. Review of Yesterday's Forex Trades

The price test at 1.3317 occurred when the MACD indicator moved significantly above the zero line, limiting the pair's upward potential. For this reason, I did not buy the pound

Jakub Novak 08:19 2025-04-28 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 28. Review of Yesterday's Forex Trades

The first test of the 1.1340 price level in the second half of the day coincided with the moment when the MACD indicator had already moved significantly below the zero

Jakub Novak 08:19 2025-04-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.