GBP/USD Market Breaks out at 1.3800

British Pound Price Prediction – August 3
The GBP/USD market breaks out the point of 1.3800 to decimate the path it keeps to the downside recently. The currency pair now trades around the value of 1.3915 at a rate of about 0.28 percentage increase.

GBP/USD Market
Key Levels:
Resistance levels: 1.4000, 1.4100, 1.4200
Support levels: 1.3800, 1.3700, 1.3600

GBP/USD – Daily Chart
The GBP/USD daily chart showcases that the currency pair market breaks out at 1.3800, putting the bearish channel trend lines to the downside. Variant trading Japanese candlesticks are being formed around 1.3900 above the trend lines of SMAs. The 50-day SMA indicator closely approached from underneath by the 14-day SMA indicator in an attempt to probably intercept it to the north. The Stochastic Oscillators are in the overbought region with the two lines joined, slightly pointing to the southbound. That suggests that a less-active motion is ongoing in the fiat trading space.
Would there be a continuation in the GBP/USD price operation as the market breaks out at 1.3800?
Initially, the market witnessed a resistance of around 1.3800. Currently, the market breaks out at the level earlier mentioned, seemingly settling the base trading instrument on a higher recovery moving note against the counter tool. Re-interception of the bigger SMA trend-line from beneath by the smaller SMA trend-line will be a confirmation that more ups will achieve at the expense of bears’ light-weight in the market.

On the downside, between 1.3900 and 1.4000 price levels, bears should re-affirm their stands in the wake of kicking against any further effort that bulls may be tending to push northwardly away from those points. That could achieve while a pull-up is made with strong-reversal motion as well. Several rejections around the higher value will potentially give a decent sell order entry.

To summarize the analysis, it is established on the chart that the GBP/USD bulls are on the course of recovery as they have continued to capitalize on the upward motion that they have recently embarked. An eventual downward push against the main point at 1.3800 will allow the market back into its recent bearish channels.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart depicts that the currency pair market breaks out some resistances to push northward further. The 50-day SMA trend-line has been intercepted to the north by the 14-day SMA trend-line The bullish trend-line drew northward across the bigger SMA trend-line, playing a kind of supportive role to smaller SMA. The Stochastic Oscillators have swerved the lines from the overbought region briefly northbound above the range of 20. That suggests that some more pressures to the upside may still attempt by the currency pair market.


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