empty
 
 
26.10.2021 02:21 PM
GBPUSD bulls remain in control of the trend.

As expected by our analysis, GBPUSD pulled back towards the channel support and lower boundary. Bulls managed to defend the lower channel boundary and produced a new upward move that is close to providing new higher highs above 1.3830.

This image is no longer relevant

Red lines- bullish channel

As we mentioned in our previous analysis, holding inside the channel could lead to another push higher. So far bulls remain in control of the trend as price continues to respect the channel boundaries. Price has potential of making higher highs above 1.3830 and it is important to keep a close eye on the RSI and see if it provides a new bearish divergence. Support at 1.3755 is key and breaking below it would provide a bearish signal.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback