Technical analysis of GBP/USD 01/27/2021

The GBP/USD currency pair is in an uptrend. On the 4H timeframe the currency pair found support at the level of 1.3612 (MA 100) and is currently trading at the level of 1.3750 (1-year high). If the currency pair succeeds in breaking and consolidating above 1.3750, it will open up an opportunity for gains towards 1.4350 (2018 high).
Cancellation of the option for the growth of the pair from these levels will be a quotes decline below 1.3600, what will indicate a breakdown of the uptrend line and (MA 100) and will be a signal for the development of a correction or a change in trend on the 4H chart.

GBPUSD_STPH4_1

Created by Joshua Hayn

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