GBP/USD is at Essential Support

GBP/USD is at Essential Support

GBP/USD Technical Analysis

  • GBP/USD is bearish
  • Short selling target has been reached
  • Historical Buyers are waiting
  • The price might go up


  1. Historical buyers
  2. The swing high
  3. The 88.6 zone where the price could turn bullish
  4. Breakout level

The price is bearish and we could see a bounce to the upside as the price is at essential level. If the market reaction is as it was in Dec 2020, we should see the bullish price and possible move up. Historical vs Now Moment perspective is one of the greatest Forex advantages. 1.3420 zone should hold and the next target could be 1.3656. A break above will make a breakout towards M H3 1.3851. However, should 1.3394 fail the move down towards 1.3241 is inevitable.