Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

GBP/USD Heading To +1.26?

By Fawad RazaqzadaMarket OverviewJun 08, 2020 15:02
uk.investing.com/analysis/gbpusd-heading-to-126-200442608
GBP/USD Heading To +1.26?
By Fawad Razaqzada   |  Jun 08, 2020 15:02
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

The Cable continues to show constructive price action as the dollar continues to weaken on reduced haven flows. Similar price action has been observable on the other major pairs with the EUR/USD breaking higher and USD/CAD lower etc.

Have a look at this chart of the cable:

GBP/USD Daily
GBP/USD Daily

Source: TradingView and TradingCandles.com

The GBP/USD has now broken it bearish trend line, which was derived from connecting the highs in March and April. This is clearly a bullish development as it shows the sellers are losing control of the trend.

The GBP/USD had previously created a false breakout below its prior low around 1.2166 in mid-May. That has proven to be the key reversal formation as price has pushed higher since then.

From here it looks like the candle is heading to the liquidity resting above 1.2650, the prior double top high and where the 200-day comes into play.

We have actually been posting bullish trade signals on the GBP/USD and other dollar crosses including the EUR/USD and gold over the past couple of weeks.

This, for example, is the before and after of our GBP/USD setup:

GBP/USD 1 Hour
GBP/USD 1 Hour

Original Post

GBP/USD Heading To +1.26?
 

Related Articles

Neil Wilson
Stocks On Sale, But For How Long? By Neil Wilson - Jan 25, 2022

We were looking for a level and maybe we got it; or maybe it’s a dead cat bounce. US stock markets staged one of the most remarkable turnarounds in living memory. The Nasdaq ended...

GBP/USD Heading To +1.26?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warrant that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, the author does not guarantee its accuracy or completeness, nor does the author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Continue with Google
or
Sign up with Email