GBP/USD Price Forecast – The British Pound Bounces Slightly

British Pound vs US Dollar Technical Analysis

The British pound has rallied a bit during the session on Monday, but it should be noted that the Americans were away for the Juneteenth holiday. Because of this, liquidity may have been a little bit of an issue late in the session, but quite frankly, we have been in the downtrend for ages, and that certainly does not look like it’s going to change anytime soon. Pair has been in the downtrend for quite some time, so I think it is only a matter of time before the 1.20 level is tested, which is an area that I think will eventually find yet another battle.

On the other hand, we could rally a bit, but the 1.26 level looks to be very difficult to get a bone, especially as the 50 Day EMA is slicing through it and dropping hard. In other words, this looks like a situation where rallies will be sold, so I will be looking for signs of exhaustion that I can jump upon. If I do get that opportunity, then an exhaustion candle will be a reason to start buying US dollars again as they will be “cheap.”

The US dollar is by far the strongest currency out there, and I don’t see that changing anytime soon. This is especially true considering there’s so much in the way of fear out there, and of course, the US dollar is the first place people will run to. With that being the case, I think it’s a situation where you’re just looking for your opportunities to take advantage of. Patience will be a major necessity in this pair going forward.

GBP/USD Price Forecast Video 21.06.22

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