GBP/USD Technical Analysis: Weakness to Continue
16 Jul 2021 13:30, GMTWhat's on this page
GBP/USD Technical Highlights:
- GBP/USD 4-hr chart shows clean bearish structure
- Daily support and 200-day just under 13700
- Move towards long-term support at 13500 could unfold
Cable is poised to trade lower as a clean pattern is emerging on the 4-hr chart. This could lead GBP/USD to trade down to the 13670-area soon, with broader the potential of trading down to weekly support at 13500 dating to 2009.
GBP/USD 4-hr Chart
GBP/USD Daily Chart
GBP/USD Weekly Chart
Resources for Forex Traders
Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.
---Written by Paul Robinson, Market Analyst
You can follow Paul on Twitter at @PaulRobinsonFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.