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GBPUSD Tests 1.4000 as New Resistance

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The GBPUSD has broken down from a long-standing trend line.

I wrote about this level a few times in recent weeks. I also talked about the 1.4200 resistance area, which turned out to be a significant turning point.

We can also see how GBPUSD is moving within a massive channel on the weekly time frame.

GBPUSD (weekly time frame)

After closing below that trend line and the 1.4000 handle, GBPUSD is retesting it as new resistance.

The question now is, will we see the pound continue lower, or is this a false break?

The jury is out for now, but the 1.4000 to 1.4100 region is resistance for now. That’s what we do know.

A rotation lower would target the next key support at 1.3670.

Alternatively, a daily close above the 1.4000 region would signal strength and perhaps a confirmed false break.

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GBPUSD (daily time frame)

Leave a Comment:

15 comments
Karisa Kimera says

Thank you Mr. Justin

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Fabio E Ramirez says

Glad to have you back Justin, I am following this pair closely

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Roberto says

Thank you for sharing your insight!

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ali says

thanks sir justin

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Kulwinder Kaur says

Justin sir,

I have been waiting for my DPA membership credentials. Please look into the matter.

Regards,

Kulwinder

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    High Touch says

    Better avoid DPA website, no value for money at the moment. Justin is rarely present. Probably will be better for you to join his new crypto love.

    Reply
      Kulwinder Kaur says

      Thanks for suggesting. But they are not responding to any email. I am really worried about my money now.

      Reply
        Kulwinder Kaur says

        Eventually, approved. Now I wish Justin makes a good balance between forex and crypto!

        Reply
        Victor says

        I also payed since February, and I haven’t been added to DPA.
        I’m already convinced it’s a scam cause they’re not even replying my messages

        Reply
Selwyn Harvey says

Thankyou Justin for this post. Waiting for something to happen in the Forex market. Been quiet the last few months.

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ali says

thanks for the update.

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Mawanda Derrick says

what happened to daily setups

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muhammad ashraf says

very nice

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Abel says

Great staff Justin. Thanks for sharing your ideas.

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