Forex: GBP/USD - Technical Analysis - British Pound To US Dollar

Solid Wage Growth in Poland Signals Improving Labor Market Conditions

Relevance up to 12:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 19.08.2022 analysis


Overview :

GBP/USD : The bias remains bearish in the nearest term testing 1.1800 or lower. Immediate support is seen around 1.1800.

A clear break below that area could lead price to the neutral zone in the nearest term. Price will test 1.1800, because in general, we remain bearish on August 19h, 2022.

The GBP/USD pair continues moving downwards from the level of 1.1921 this morning. Today, the first resistance level is currently seen at 1.1921, the price is moving in a bearish channel now.

The market moved from its top at 1.2056 and continued to drop towards the top of 1.2056. Today, on the one-hour chart, the current fall will remain within a framework of correction.

If the trend breaks the double bottom level of 1.1850, the pair is likely to move downwards continuing the development of a bearish trend to the level of 1.1800 in order to test the weekly support 1.

So, the support stands at the level of 1.1850, while daily resistance is found at 1.1921. Therefore, the market is likely to show signs of a bearish trend around the spot of 1.1921.

However, if the pair fails to pass through the level of 1.1921 (first resistance), the market will indicate a bearish opportunity below the strong resistance level of 1.1921 (the level of 1.1921 coincides with tha ratio of 00% Fibonacci retracement, bottom price, last bearish wave).

Since there is nothing new in this market, it is not bullish yet. Sell deals are recommended below the level of 1.1921 with the first target at 1.1800 and continue towards 1.1750 so as to test the second support at the same time frame.

According to the previous events the price is expected to remain between 1.1921 and 1.1750 levels. Sell-deals are recommended below the price of 1.1921 with the first target seen at 1.1850. The movement is likely to resume to the point 1.1800. The descending movement is likely to begin from the level 1.1850 with 1.1800 and 1.1750 seen as new targets in coing hours.

This would suggest a bearish market because the RSI indicator is still in a negative area and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 1.1750 in order to test the second support (1.1750).

On the other hand, if the GBP/USD pair fails to break through the weekly pivot point level of 1.2056 today, the market will move upwards continuing the development of the bullish trend to the level 1.2275 (double top) for next month.


Read more:

Solid Wage Growth in Poland Signals Improving Labor Market Conditions

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. offers access to around 2,500 instruments (CFDs in Stocks, ETFs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at:


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.82%. of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.