GBP/USD Price Extends Valuation toward 1.3800

British Pound Price Prediction – October 19
The GBP/USD price extends valuation toward the 1.3800 line in a slow and steady-moving manner. The currency pair valuation trades around 1.3779 at a positive percentage rate of about. 0.41.

GBP/USD Market
Key Levels:
Resistance levels: 1.3900, 1.4000, 1.4100
Support levels: 1.3700, 1.3600, 1.3500

GBP/USD – Daily Chart
The GBP/USD daily chart showcases that the fiat currency pair price extends valuation toward the 1.3800 trading level. The bearish channel trend lines are intact, depicting that the market is yet to push off away from a bearish trading zone. The upper bearish channel trend line drew along the bigger SMA trend line as a bullish candlestick has emerged against them. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region with conjoined lines consolidating in it. That means that buying forces are prevailing in the currency pair trading activities.
Would the GBP/USD trade upkeep its motions as the currency pair price extends position toward 1.3800 level?
It appears that the GBP/USD trade may get resisted around a higher line as the currency pair price extends position toward 1.38000 level. Joining the current buying motions to the upside may not be that technically ideal as there has been an indication stating that the market now trades in an overbought zone. Long position takers needed to re-strategize their techniques, especially while there are no active price actions.

On the downside, the GBP/USD market bears may re-build their presences around the level of 1.3800 if today’s bullish candlestick finishes with a top shadow sign. Subsequent variant price convergences around the value line could afterward give birth to a downward force return.

In summary, traders are to be cautious of exerting any trading position as of now. Even though price still moves relatively to the up, an indicator has portended that the market is doing so in an overbought trading zone as there can be a reversal in no time.
GBP/USD 4-hour Chart
The GBP/USD 4-hour chart also depicts that the currency pair price extends valuation toward 1.3800 resistance level in bullish channel trend lines. The 14-day SMA indicator has intercepted the 50-day SMA indicator to the north side. The Stochastic oscillators have crossed the lines northbound, indicating that some upward forces are ongoing. Presently, the currency pair market faces resistance around the value line mentioned earlier, and in an extension, the higher resistance could be around 1.3850 if breached northward.

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