{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbp-usd-market-extends-profits-in-bullish-recovery-channels\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbp-usd-market-extends-profits-in-bullish-recovery-channels\/","headline":"GBP\/USD Market Extends Profits in Bullish Recovery Channels","name":"GBP\/USD Market Extends Profits in Bullish Recovery Channels","description":"British Pound Price Prediction \u2013 January 11It is now apparent that the GBP\/USD price experiences northward motion as the currency pair market extends profits in bullish recovery channels. The market opens today\u2019s operation at around 1.3575 to witness a higher trading line of about 1.3619 and a; lower point of about 1.3561. The market percentage […]","datePublished":"2022-01-12","dateModified":"2022-01-12","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/01\/GBPUSDCHARTJAN11.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/01\/GBPUSDCHARTJAN11.png","height":608,"width":941},"url":"https:\/\/forexschoolonline.com\/gbp-usd-market-extends-profits-in-bullish-recovery-channels\/","about":["FX Technical Analysis","GBPUSD"],"wordCount":502,"articleBody":"British Pound Price Prediction \u2013 January 11It is now apparent that the GBP\/USD price experiences northward motion as the currency pair market extends profits in bullish recovery channels. The market opens today\u2019s operation at around 1.3575 to witness a higher trading line of about 1.3619 and a; lower point of about 1.3561. The market percentage rate is 0.17, as of writing.GBP\/USD MarketKey Levels: Resistance levels: 1.3700, 1.3800, 1.3900Support levels: 1.3500, 1.3400, 1.3300GBP\/USD \u2013 Daily Chart Today\u2019s GB P\/USD daily chart showcases that the currency pair market extends profits in bullish recovery channels. In a bid to continue to the north side, variant smaller bullish candlesticks are being occurred briefly above the trend line of the bigger SMA. The 14-day SMA indicator is beneath the 50-day SMA indicator, pointing toward the north side to indicate that some momentums are still gathering to the upside. The Stochastic Oscillators are in the overbought region, moving in a firm consolidation manner to establish that the base trading instrument is still in the control of the market.Should long-position takers of the GBP\/USD trade hold on to their positions as the currency pair market extends profits in bullish recovery?Technically, the GBP\/USD trade long-position takers to stay alert to know when there will be an emergence of a bearish candlestick engulfing some of the penultimate bullish candlesticks to suspend holding the long positions opened. If that assumption play plays out, the market may get a convergence-setting pattern, denoting against getting more ups. If that presumption doesn’t materialize, the price may somewhat systemically extend more beyond the resistance at 1.3700 afterward.On the downside of the technical analysis, the GBP\/USD market short-position takers needed to exercise some degrees of patience not to hurry to start launching sell orders as there has been no significant sell signal warranting that as of the moment. However, the price may soon encounter resistance around 1.3700 that can, in the long run, give room to the creation of an ideal formation to suggest a closure completion of the current upward trend.In summary, as the GBP\/USD market has reached an overbought state, traders needed to stay off for a while and be alert as to when there will be an emergence of a bearish candlestick to engulf some of the immediate past bullish candlesticks before considering a sell order position at a higher trading zone.GBP\/USD 4-hour ChartThe GBP\/USD medium-term chart reveals that the currency pair market extends profits in bullish channel trend lines. The bullish channels portend an extreme posture toward the north direction. The 14-day SMA is above the 50-day SMA The Stochastic Oscillators have crossed their lines southbound underneath the range of 80. A bullish candlestick is currently emerging to possibly lead the market up to eventfully encounter resistance around 1.3650 before succumbing to decent depressions once again.Note:Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}