10.02.202117:01 Forex Analysis & Reviews: GBPUSD makes new highs

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

In our last analysis on GBPUSD we noted that as long as price remained above 1.35 trend would remain bullish. Target remains at 1.40 and price is getting closer as price continues making higher highs and higher lows.

Green line - support

Red line - support (previous resistance)

Blue line- expected size of upward break out

GBPUSD continues to respect the green trend line support. Recent base at 1.3640 is short-term support and if broken we could see a test of the green support trend line. Breaking the green trend line support could lead to a deeper pull back towards the red horizontal support which was once resistance.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.