FX.co ★ IgniteTrade | GBP/USD

GBPUSD Forecast: Literally, the movement of the market pair on Wednesday was still controlled by the buyers by successfully restraining the bearish pace of the sellers by holding it at the price area of 1.33388 which was still above the support area so that the sellers lost control to bring the price to continue to move lower or more bearish. Ultimately again. In any case, this moment is certainly used by buyers to bring the price to move bullish again until the morning of the and Asian market session. Eventually, the GBP/USD pair will continue its bearish correction again today will re-evaluate using moving averages to get the direction of the movement of the GBPUSD market pair properly even so that he can get a fairly good profit which of course also try to minimize the risk of loss for next week. Meanwhile in the Daily timeframe, therefore finally the buyers managed to bring hope to bring the price to a higher bullish move and after yesterday successfully wresting control of the GBP/USD market pair from the hands of the seller who was only able to bearishly reach the price of 1.33672 although that it failed to penetrate the strong support area from the buyers. Consequently, the bearish movement that occurred last Wednesday was only a correction phase, since then the price returned to the hands of the buyers by entering the market more than the sellers did. Actually, by using the moving average, nevertheless, it appears that the price in the timeframe is still above the Blue 200 MA area, overdue which keeps buyers’ chances of continuing to bring the price back to bullish with the target at least to the Yellow 100 MA area. Well, in the H4 timeframe, even though it is observed that the current price has managed to move up away from the yellow 150 MA area with strong enough incoming buyers to make the price of the GBPUSD pair move up again bullishly. Expectantly if this afternoon the market is filled with buyers again, and in general it is not impossible for the price to be able to break above the yellow 150MA area, despite this which indicates the price will continue to rise, at least targeting the 1.33872 price area as the target. Now it’s different if the price fails to break through the blue 100 MA area again, but it will provide an opportunity for the seller to bring the bearish price back additionally down with a note that it must be able to penetrate the black 200MA area with a target to the Yellow 100MA area in the H4 timeframe.