{"id":11108,"date":"2021-07-01T07:37:00","date_gmt":"2021-07-01T06:37:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=11108"},"modified":"2021-07-01T20:39:04","modified_gmt":"2021-07-01T19:39:04","slug":"gbpusd-technical-analysis-bulls-need-to-reclaim-1-3900-level","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-bulls-need-to-reclaim-1-3900-level\/","title":{"rendered":"GBPUSD Technical Analysis &#8211; Bulls Need to Reclaim 1.3900 Level"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"11108\" class=\"elementor elementor-11108\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b570cee elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b570cee\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f8d028d\" data-id=\"f8d028d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f5861f7 elementor-widget elementor-widget-text-editor\" data-id=\"f5861f7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The British pound has had a tough week against the US dollar currency with the pair falling back towards the 1.3800 support zone after failing to hold the price above the 1.3900 resistance zone.<\/p><p>Weakness in sterling appears to be largely driven by strength in the <a href=\"https:\/\/bit.ly\/3wsfLnp\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a>, and also technical selling. News surrounding UK coronavirus cases and variants, and a reshuffle in the UK Conservative parties cabinet was not seen as being a big price mover for the British pound.<\/p><p>The loss of the 1.3900 support level meant that a breakout from a large ascending wedge pattern took place. <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> bulls need to quickly anchor the price back above the 1.3900 level to avoid a further technical decline towards the 1.3750, and possibly the 1.3660 price area.<\/p><p>UK Gross Domestic Product this week confirmed that the United Kingdom economy contracted in the first fiscal quarter, however, with markets being forward looking Q2 GDP data from the UK, which when released will be a much bigger market mover this month.<\/p><p>This week\u2019s Non-farm payrolls job report could be a big market mover for sterling in the near-term. A softer than expected headline number could propel sterling back to the 1.4000 area as traders and investors pare back expectations of QE purchases being reduced later this year.<\/p><p>According to the ActivTrader Market Sentiment tool shows that some 42 percent of traders remain bearish towards the GBUSD pair right now. This is a drop of 10 percent since last week. The bullish sentiment skew is still warning about further losses.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-44ec7ad elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44ec7ad\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f28573f\" data-id=\"f28573f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ef648eb elementor-widget elementor-widget-image\" data-id=\"ef648eb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"296\" height=\"107\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/07\/gbpusd-chart.png\" class=\"attachment-large size-large wp-image-11112\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-52bde9f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"52bde9f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a5cf8a0\" data-id=\"a5cf8a0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ba1bce9 elementor-widget elementor-widget-text-editor\" data-id=\"ba1bce9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>GBPUSD Short-term Technical Analysis<\/strong><\/p><p>Looking at the four-hour time frame, the GBPUSD pair has broken under a large ascending triangle pattern, following the recent loss of the 1.3900 support level. According to the overall size of the pattern a decline of 100 point should be expected.<\/p><p>It is also possible that if the GBPUSD pair moves above the 1.3900 and heads towards the top of the patter, around 1.4000, then a counter rally towards the 1.4100 resistance level could take place.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-febba84 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"febba84\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9f9d5d5\" data-id=\"9f9d5d5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fff1713 elementor-widget elementor-widget-image\" data-id=\"fff1713\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"344\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/07\/GBPUSD-4H.png\" class=\"attachment-large size-large wp-image-11114\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-44ec0ee5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44ec0ee5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-41bfd0d1\" data-id=\"41bfd0d1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-25f4601c elementor-widget elementor-widget-text-editor\" data-id=\"25f4601c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-29c63d1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"29c63d1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44cda0a\" data-id=\"44cda0a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-813b27d elementor-widget elementor-widget-text-editor\" data-id=\"813b27d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>GBPUSD Medium-term Technical Analysis<\/strong><\/p><p>According to the daily time frame a bullish breakout from a large falling price channel took place earlier this year, and the GBPUSD pair may be headed for a retest of the key breakout area<\/p><p>If bears take control under the 1.3800 level, watch out for a technical test of the falling price channel, around the 1.3710 level. This is a must bounce level if the GBPUSD pair has any chance of getting back to the 1.4000 level.<\/p><p>Failure for GBPUSD bulls to defend the 1.3710 level then a decline towards the 1.3600 to 1.3500 area is also possible.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eac78c9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eac78c9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c532f7\" data-id=\"5c532f7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-29eac53 elementor-widget elementor-widget-image\" data-id=\"29eac53\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"342\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/07\/GBPUSD-1D.png\" class=\"attachment-large size-large wp-image-11115\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-380a6af4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"380a6af4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bfc4bdb\" data-id=\"bfc4bdb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-11595c36 elementor-widget elementor-widget-text-editor\" data-id=\"11595c36\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The British pound has had a tough week against the US dollar currency with the pair falling back towards the 1.3800 support zone after failing to hold the price above the 1.3900 resistance zone. Weakness in sterling appears to be largely driven by strength in the US dollar index, and also technical selling. News surrounding [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[45,20,173],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GBPUSD Technical Analysis - Bulls Need to Reclaim 1.3900 Level - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-bulls-need-to-reclaim-1-3900-level\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GBPUSD Technical Analysis - Bulls Need to Reclaim 1.3900 Level\" \/>\n<meta property=\"og:description\" content=\"The British pound has had a tough week against the US dollar currency with the pair falling back towards the 1.3800 support zone after failing to hold the price above the 1.3900 resistance zone. Weakness in sterling appears to be largely driven by strength in the US dollar index, and also technical selling. 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