{"id":29354,"date":"2022-06-02T12:54:00","date_gmt":"2022-06-02T11:54:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=29354"},"modified":"2022-06-02T21:04:24","modified_gmt":"2022-06-02T20:04:24","slug":"gbpusd-technical-analysis-sterling-car-crash-continues-2","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-sterling-car-crash-continues-2\/","title":{"rendered":"GBPUSD Technical Analysis &#8211; Sterling Car Crash Continues"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"29354\" class=\"elementor elementor-29354\" 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-7a53ceb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a53ceb\" 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-6b07bad\" data-id=\"6b07bad\" 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-1052340 elementor-widget elementor-widget-text-editor\" data-id=\"1052340\" 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 currency trades at a two-year low and continues its recent car crash against the greenback on the foreign exchange markets as the <a href=\"https:\/\/bit.ly\/3KK5zNF\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> buy trade remains the number one game in town.<\/p><p>The GBPUSD pair continues its weekly slide from the 1.2400 mark and witnessed heavy follow-through selling towards the end of the week. Thursday\u2019s sell-off in GBPUSD marked the sixth successive day in a negative move.<\/p><p>The British pound currency also took a major hit following the release of weaker UK macro data, which, along with sustained\u00a0<a href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">US dollar<\/a>, and more dovish BoE has increased downside pressure on the GBP\/USD pair.<\/p><p>The Preliminary UK GDP report showed that the British economy expanded by 0.8% during the first quarter of 2022 as against the 1.3% growth recorded in the previous quarter and the 1.0% anticipated.<\/p><p>Adding to this, the monthly GDP print also fell short of market expectations and came in to show that the economy contracted by 0.1% in March.<\/p><p>The subsequent break through the highs of March 2020 highs has been a major clue that more weakness is to come for the majors against the US dollar. The GBP, <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURO<\/a>, and <a href=\"http:\/\/bit.ly\/2yFD0hu\" target=\"_blank\" rel=\"noopener\">antipodean currencies<\/a> are all getting slammed against the buck.<\/p><p>Looking at sentiment data and how traders feel about sterling, the ActivTrader Market Sentiment tool shows that traders are currently still very bullish towards sterling.<\/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-e7187a5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e7187a5\" 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-279f211\" data-id=\"279f211\" 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-4218cf0 elementor-widget elementor-widget-image\" data-id=\"4218cf0\" 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=\"432\" height=\"161\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/06\/gbpusd-chart.jpg\" class=\"attachment-large size-large wp-image-29357\" 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-08c86fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"08c86fc\" 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-dbab826\" data-id=\"dbab826\" 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-8d1c5cb elementor-widget elementor-widget-text-editor\" data-id=\"8d1c5cb\" 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>With 68% of traders turning bullish, it should be noted that this current sentiment reading is warning of more losses, as traders have basically taken a very bullish view since the 1.3000 level.<\/p><p><strong>GBPUSD Short-term Technical Analysis<\/strong><\/p><p>Looking at the four-hour time frame, technical analysis clearly shows that that GBPUSD pair has broken a number of important trendlines, with each trendline break, more losses follow.<\/p><p>A strong recovery back towards the 1.32300 level would help the cement a slightly more bullish reversal pattern. Much above the 1.2550 level and a potential inverted head and shoulders pattern could start to form.<\/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-3b2655b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3b2655b\" 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-8822095\" data-id=\"8822095\" 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-4f44edf elementor-widget elementor-widget-image\" data-id=\"4f44edf\" 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=\"936\" height=\"555\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/06\/gbpusd-4h.jpg\" class=\"attachment-large size-large wp-image-29358\" 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-b035458 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b035458\" 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-7ad8fce8\" data-id=\"7ad8fce8\" 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-6c5b8a40 elementor-widget elementor-widget-text-editor\" data-id=\"6c5b8a40\" 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-c6cba76 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c6cba76\" 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-b31ddc2\" data-id=\"b31ddc2\" 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-040962e elementor-widget elementor-widget-text-editor\" data-id=\"040962e\" 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, the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> pair has broken under the bottom of a declining broadening expanding wedge pattern, which is a basically a bullish reversal pattern.<\/p><p>The daily time frame close under the wedge has causes a huge price collapse, while a rebound from current levels is not unthinkable. 1.2000 now seems more likely than say 1.2800.<\/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-afeabb7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"afeabb7\" 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-b23a327\" data-id=\"b23a327\" 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-8119673 elementor-widget elementor-widget-image\" data-id=\"8119673\" 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=\"936\" height=\"552\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/06\/gbpusd-1d.jpg\" class=\"attachment-large size-large wp-image-29359\" 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-68fe4d3e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"68fe4d3e\" 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-466f9290\" data-id=\"466f9290\" 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-3383380 elementor-widget elementor-widget-text-editor\" data-id=\"3383380\" 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 currency trades at a two-year low and continues its recent car crash against the greenback on the foreign exchange markets as the US dollar index buy trade remains the number one game in town. The GBPUSD pair continues its weekly slide from the 1.2400 mark and witnessed heavy follow-through selling towards the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":15725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[56,20,40],"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 - Sterling Car Crash Continues - 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-sterling-car-crash-continues-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GBPUSD Technical Analysis - Sterling Car Crash Continues GBPUSD Technical Analysis - Sterling Car Crash Continues\" \/>\n<meta property=\"og:description\" content=\"The British pound currency trades at a two-year low and continues its recent car crash against the greenback on the foreign exchange markets as the US dollar index buy trade remains the number one game in town.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-sterling-car-crash-continues-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-02T11:54:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-02T20:04:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/09\/GettyImages-1137533375.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"504\" \/>\n\t<meta property=\"og:image:height\" content=\"308\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"GBPUSD Technical Analysis - Sterling Car Crash Continues GBPUSD Technical Analysis - Sterling Car Crash Continues\" \/>\n<meta name=\"twitter:description\" content=\"The British pound currency trades at a two-year low and continues its recent car crash against the greenback on the foreign exchange markets as the US dollar index buy trade remains the number one game in town.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-sterling-car-crash-continues-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-sterling-car-crash-continues-2\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"GBPUSD Technical Analysis &#8211; 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