GBP-USD Technical Analysis 21-Oct-2020

As discussed earlier on this post GBP-USD Technical Analysis 07-Oct-2020 the GBP-USD is bullish in the long-term as MACD still heading upwards but it has come to a slowdown due to correction on the weekly time frame. 

At this point it seems the uptrend is starting to kick in again and of course it will retest the previous resistance at 1.30896. Currently sitting on the 1.30137 and it has strong tendency to keep moving upwards towards the resistant level. In addition there is also indication it might breakthrough and create new high up to 1.31254. 

The threat of further correction still exist and beware it might strike by surprise but it will be temporary. So if the major correction take place it will become a great opportunity to buy as the volume is huge.

Chart below shows all the smaller time frames technical indicators (MACD + Stochastic) including 1m, 5m, 15m, 30m, 1h, 4h, Daily all moving up signified a very strong bullish.

Monthly time frame indicate the long-term bullish of the GBP-USD by the MACD indicator.

gbp/usd forecast | gbp/usd chart | gbp/usd rate | gbp/usd investing | gbpusd -- tradingview | forex trading for beginners | currency trading for dummies | forex trading tutorial | forex trading strategies