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 May 27. Review of Yesterday's Forex Trades

The test of the 142.77 price level occurred at a time when the MACD indicator had already moved significantly below the zero line, which limited the pair's downside potential

Jakub Novak 09:01 2025-05-27 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 27. Review of Yesterday's Forex Trades

The first test of the 1.3553 price level in the second half of the day occurred when the MACD indicator had already moved significantly below the zero mark, which limited

Jakub Novak 09:01 2025-05-27 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on May 27. Review of Yesterday's Forex Trades

The first test of the 1.1374 price level in the second half of the day occurred when the MACD indicator had already moved significantly below the zero line, which limited

Jakub Novak 09:01 2025-05-27 UTC+2

Intraday Strategies for Beginner Traders on May 27

Buyers of the euro and the pound have taken a wait-and-see approach, as Trump's statements alone are no longer enough to justify ongoing purchases of risk assets. However, today's economic

Miroslaw Bawulski 08:18 2025-05-27 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on May 26th (U.S. Session)

The test of the 142.85 level occurred when the MACD indicator had already moved far above the zero line, limiting the pair's upward potential. For this reason

Jakub Novak 15:18 2025-05-26 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 26th (U.S. Session)

The test of the 1.3567 level in the first half of the day coincided with the MACD indicator just beginning its move down from the zero line, which confirmed

Jakub Novak 15:15 2025-05-26 UTC+2

EUR/USD: Simple Trading Tips for Beginners – May 26th (U.S. Session)

The price test of 1.1397 occurred when the MACD indicator had just started to move downward from the zero mark, confirming a valid short entry point and resulting

Jakub Novak 15:12 2025-05-26 UTC+2

Level and Target Adjustments for the U.S. Session on May 26th

Given the sharp decline in the euro and the modest movement in the pound, using a Mean Reversion strategy for either was not advisable. Only the yen showed a clear

Miroslaw Bawulski 15:05 2025-05-26 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on May 26. Review of Yesterday's Forex Trades

The dollar continued to lose ground against the yen in response to Trump's statements that he is willing to make concessions on trade tariffs, as his main goal

Jakub Novak 09:14 2025-05-26 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on May 26. Review of Yesterday's Forex Trades

The British pound continues to strengthen. Investors have responded optimistically to the easing of Washington's rhetoric towards its trading partners, reducing concerns about a global trade war. This, in turn

Jakub Novak 09:14 2025-05-26 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.