{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbp-usd-retesting-the-buyers\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbp-usd-retesting-the-buyers\/","headline":"GBP\/USD Retesting The Buyers!","name":"GBP\/USD Retesting The Buyers!","description":"GBP\/USD has decreased a little but this could be only a temporary decline. It could test and retest the immediate support levels before jumping higher. It\u2019s trading in the red right now but it could turn to the upside anytime if the US Dollar Index drops further. The UK Average Earnings Index and the Claimant […]","datePublished":"2021-07-15","dateModified":"2021-07-15","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/#Person","name":"Olimpiu Tuns","url":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/","identifier":19876,"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:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","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\/2021\/07\/gbpusd.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/07\/gbpusd.png","height":887,"width":1828},"url":"https:\/\/forexschoolonline.com\/gbp-usd-retesting-the-buyers\/","about":["GBPUSD"],"wordCount":242,"keywords":["gbpusd","pitchfork","Technical Analysis","Trade Setup"],"articleBody":"GBP\/USD has decreased a little but this could be only a temporary decline. It could test and retest the immediate support levels before jumping higher. It\u2019s trading in the red right now but it could turn to the upside anytime if the US Dollar Index drops further.The UK Average Earnings Index and the Claimant Count Change have come in better than expected, but unfortunately, the Unemployment Rate increased unexpectedly from 4.7% to 4.8%. The US data could be decisive today, the Industrial Production, Capacity Utilization Rate, and the Unemployment Claims could shake the markets.Technical Analysis!GBP\/USD dropped below the ascending pitchfork\u2019s lower median line (lml) but the bias remains bullish as long as it stays above the outside sliding parallel line.\u00a0 It has retested the Falling Wedge\u2019s broken resistance and now it seems undecided.It moves sideways in the short term, developing a temporary range. Coming back within the ascending pitchfork\u2019s body and making a valid breakout above the 61.8% could really signal an upwards continuation.GBP\/USD is located above strong support levels, so it could still increase. Also, we could still search for long opportunities as long as it stays above these levels. Only a valid breakdown below 78.6% (1.3795) could invalidate the bullish scenario. Note: ForexSchoolOnline 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."}