{"id":8108,"date":"2021-05-12T07:40:00","date_gmt":"2021-05-12T06:40:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=8108"},"modified":"2021-05-12T12:51:29","modified_gmt":"2021-05-12T11:51:29","slug":"gbpusd-technical-analysis-1-4200-possible","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/gbpusd-technical-analysis-1-4200-possible\/","title":{"rendered":"GBPUSD Technical Analysis &#8211; 1.4200 possible"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"8108\" class=\"elementor elementor-8108\" 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-1fe6ffe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1fe6ffe\" 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-f185d9e\" data-id=\"f185d9e\" 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-f7e1803 elementor-widget elementor-widget-text-editor\" data-id=\"f7e1803\" 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 been ramping higher against the US dollar currency, as the greenback comes under pressure from all directions on the foreign exchange market after last week\u2019s monthly jobs report.<\/p><p>Sterling also benefitted from the slightly hawkish Bank of England policy decisions, where the central bank sounded it\u2019s most positive towards the UK economy since the start of the COVID-19 pandemic.<\/p><p>Similarly, the <a href=\"https:\/\/bit.ly\/3rUP6gH\" target=\"_blank\" rel=\"noopener\">FTSE100<\/a> and the <a href=\"https:\/\/bit.ly\/3cGTARE\" target=\"_blank\" rel=\"noopener\">S&amp;P 500<\/a> have both been surging over recent days. Typically, the <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> pair performs well when the S&amp;P 500 is in rally mode, due to its positive price correlation with the index.<\/p><p>More positive data from the UK economy this month and continued weakness in the <a href=\"https:\/\/bit.ly\/3eIXPz1\" target=\"_blank\" rel=\"noopener\">US dollar index<\/a> should paint a bullish price picture for the GBPUSD pair. This also fits in with the current technical backdrop.<\/p><p>A number of bullish patterns are currently playing out to the upside with a wide-reaching upside target. The 1.4200 level is the near-term objective of one of the bullish patterns, however, a much larger pattern is alluding to a coming break above 1.5000.<\/p><p>Sterling has not traded above the 1.5000 handles since the United Kingdom voted to leave the European Union. The key upside level to watch is 1.5019, which is the Brexit swing-high, from way back in June 2016.<\/p><p>Looking at sentiment metrics, the ActivTrader Market Sentiment tool shows that some 63 percent of traders remain bearish towards the GBUSD pair right now. Bearish sentiment probably means more gains in the GBPUSD pair as traders continue to lean against the prevailing uptrend.<\/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-e3af43f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e3af43f\" 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-1769aac\" data-id=\"1769aac\" 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-045c11e elementor-widget elementor-widget-image\" data-id=\"045c11e\" 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=\"303\" height=\"111\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/05\/GBPUSD-CHART-1.png\" class=\"attachment-large size-large wp-image-8112\" 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-fde4727 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fde4727\" 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-2d39b4f\" data-id=\"2d39b4f\" 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-54ca050 elementor-widget elementor-widget-text-editor\" data-id=\"54ca050\" 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, an inverted head and shoulders pattern continues to play out to the upside, following last week\u2019s key breakout above the 1.4010 resistance level.<\/p><p>According to the overall size of the typically bullish price pattern the GBPUSD pair could be headed towards the 1.4200 level over the short-term horizon.<\/p><p>It is noteworthy that the current yearly high is found at the 1.4240 level. This could be another target for bulls if the 1.4200 level is breached.<\/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-a8176b9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a8176b9\" 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-36d061f\" data-id=\"36d061f\" 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-bdf9344 elementor-widget elementor-widget-image\" data-id=\"bdf9344\" 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=\"343\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/05\/gbpusd-4h-1.png\" class=\"attachment-large size-large wp-image-8114\" 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-5d0575a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5d0575a\" 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-f9829d2\" data-id=\"f9829d2\" 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-68a9499 elementor-widget elementor-widget-text-editor\" data-id=\"68a9499\" 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-7bfbf2c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7bfbf2c\" 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-124d85d\" data-id=\"124d85d\" 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-1b88e4e elementor-widget elementor-widget-text-editor\" data-id=\"1b88e4e\" 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 huge, inverted head and shoulders pattern will be ignited if the 1.4240 resistance level is activated to the upside.<\/p><p>This pattern holds an upside target of 3,000 points, which means the medium to long-term price path for the GBPUSD pair looks particularly positive.<\/p><p>Just to underscore, the GBPUSD pair could be headed towards the 1.7000 resistance level. Watch out for explosive gains above the 1.4240 level.<\/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-fa1e532 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fa1e532\" 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-2bba456\" data-id=\"2bba456\" 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-7d98a75 elementor-widget elementor-widget-image\" data-id=\"7d98a75\" 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=\"339\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/05\/gbpusd-1d-2.png\" class=\"attachment-large size-large wp-image-8116\" 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-26e3e03 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26e3e03\" 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-f594bbe\" data-id=\"f594bbe\" 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-b217b6c elementor-widget elementor-widget-text-editor\" data-id=\"b217b6c\" 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 been ramping higher against the US dollar currency, as the greenback comes under pressure from all directions on the foreign exchange market after last week\u2019s monthly jobs report. Sterling also benefitted from the slightly hawkish Bank of England policy decisions, where the central bank sounded it\u2019s most positive towards the UK [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":8110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[56,57,20,243,279],"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 - 1.4200 possible - 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-1-4200-possible\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GBPUSD Technical Analysis - 1.4200 possible\" \/>\n<meta property=\"og:description\" content=\"The British pound has been ramping higher against the US dollar currency, as the greenback comes under pressure from all directions on the foreign exchange market after last week\u2019s monthly jobs report. 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