GBP/USD: the question of 1.33

GBP/USD: the question of 1.33

2020-08-28 • Updated

GBP/USD rose to the critical level of 1.33. It is critical because it is a strategic resistance opening the door into the channel of 1.33-1.34. This channel has been capping the upside of GBP/USD for the last 2 years. Since Summer 2018, the British pound has never been able to step over this mark against the US dollar. Now, it is the challenge time – again.

What is the likelihood of GBP/USD to get up beyond this resistance? It entirely depends on the USD here: the GBP taken alone is weak enough, being pressed by Brexit and likely to stay under this press until the end of the year when the outcomes of Brexit are clear. That’s why, the fact that GBP/USD went up is almost 100% a result of the weakness of the USD. That’s why, whether GBP/USD will cross this 2-year resistance gets answered by “Will the USD get even weaker?”. The latter is still to be confirmed but the probability is definitely there, given the recently announced Fed policy and the coming US Presidential elections. So watch this key resistance and make sure you have a plan if GBP/USD crosses it on the way upwards.

GBPUSDWeekly.png

                                                                                                      LOG IN

Similar

Worst Awaits Risk Assets in September
Worst Awaits Risk Assets in September

The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.

Many Reasons to Buy Disney Stock
Many Reasons to Buy Disney Stock

People all over the world love kind and colorful Disney cartoons. What if we say that you can both adore the pictures and trade stocks of the company that creates them?

Latest news

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera