GBP/USD Price Reverses Southward

British Pound Price Prediction – August 10
The GBP/USD Price reverses southward after hitting a resistance closed below a higher point at 1.4000. The currency pair’s value now stands, trading around the level of 1.3849 at a percentage rate of 0.02.

GBP/USD Market
Key Levels:
Resistance levels: 1.3900, 1.4000, 1.4100
Support levels: 1.3800, 1.3700, 1.3600

GBP/USD – Daily Chart
The GBP/USD daily trading chart shows that the currency pair’s price reverses southward after a couple of candlesticks converging around the level of 1.3900. The bullish trend-line drew to indicate the trading zone that the market operation resisted before the gradual loss of momentum to the downside. The 50-day SMA indicator has conjoined from underneath by the 14-day SMA indicator. The Stochastic Oscillators have crossed southbound from the overbought region, swerving the lines slightly further toward the range of 40. That suggests that a falling force is prevailing presently in the market.
As there has been a line of candlesticks’ convergence at 1.3900, is it possible that price reverses southward stronger more?
The GBP/USD’s price reverses southward may determine by an emergence of a full-body bearish candlestick that has to form against the line of immediate support at 1.3800. The currency pair seems to be under the falling pressure that bulls needed to allow the market to attain its course of completion before considering a trial to re-launch their stances. However, a fearful breakout at 1.3900 may set the market on to achieve a higher valuation surpassing the last high near the level of 1.4000.

On the downside, it has been to some extent signaled by the Stochastic Oscillators that the movement to the downside is imminent. There may be a degree of smaller pull-ups so that the GBP/USD bears would be able to garner the strength to push down afterward. Expectation has it that the market will revisit the previous lower level around 1.3600

In summary, the GBP/USD currency pair market appears to be under a falling force presently. Therefore, traders needed to be on the lookout for decent sell entry.
GBP/USD 4-hour Chart
The GBP/USD 4-hour chart depicts that the currency pair’s price reverses southward slightly against the SMA trend lines. That indicates that the currency pair is on the verge of losing momentum to the downside trading zones in the near possible time. The bullish trend-line drew beneath the 50-day SMA trend-line in a supportive posture as the 14-day SMA trend-line is above them, slightly pointing toward the south direction. The Stochastic Oscillators are in the oversold region, slowly moving in a consolidation manner. That suggests that price is taking a breath to determine the next movement direction. An eventual interception of the bigger SMA trend-line from the top by the smaller SMA will possibly allow more downs.


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