GBPUSD Analysis and Forex Trading Signals for Feb 4, 2021

GBPUSD Analysis and Forex Trading Signals for Feb 4, 2021

GBPUSD dropped to 1.3618-1.3610 and then made a bounce to 1.3660-1.3665 yesterday. it did not break the 1.3618-1.3620 to generate GBP Bearish Sell Signal even though there were good US ADP and ISM reports.

GBP  closed around 1.3650-1.3655 at the end of the day, but it has been sold off from 1.3650 to 1.3605 because the USD Index is getting stronger during Feb 4th Asian trading session.

GBPUSD sold off on Feb 4

GBPUSD sold off on Feb 4 during Asian trading session.

GBPUSD will drop to 1.3525 or 1.3450 to wait for Bank Of England Monetary Policy at 12:00 GMT.

GBPUSD short term trend is bearish but its medium term trend will be changed  after the Bank of England Policy Meeting.

GBPUSD Resistant Zones: 1.3660-1.3665, 1.3705-1.3710

GBPUSD Support Zones: 1.3600-1.3605, 1.3520-1.3525, 1.3445-1.3450

 

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