GBPUSD Tests 1.4000 as New Resistance

by Justin Bennett  · 

June 23, 2021

by Justin Bennett  · 

June 23, 2021

by Justin Bennett  · 

June 23, 2021


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.

[thrive_custom_box title=”” style=”dark” type=”color” color=”#fef5c4″ border=”fadf98″]

Want to Watch the GBPUSD Video I Just Released to Members?

Get a Lifetime Membership Today and receive exclusive member-only content including one to two new videos every day. Save 40% in June!

[/thrive_custom_box]

GBPUSD (daily time frame)

Continue Learning

15  Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

  1. Justin sir,

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

    Regards,

    Kulwinder

    1. 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.

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

        1. 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

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

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}