# GBPUSD Trend Line Pullback (Feb 01, 2016) Source: https://www.tradersway.com/resources/market-info/gbpusd-trend-line-pullback-feb-01-2016/ Language: en Updated: 2016-02-01 Description: Explore GBPUSD Trend Line Pullback (Feb 01, 2016). GBPUSD recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPUSD recently made a strong downside break from the short-term rising trend line support visible on its 1-hour time frame. This suggests that the pair might be in for a downtrend, although a pullback to the broken support area might be in the cards. Using the Fib tool on the breakout move shows that the broken trend line coincides with the 61.8% Fibonacci retracement level, which might hold as resistance. This is also near the moving averages, which might serve as dynamic inflection points. The 100 SMA is still above the 200 SMA, indicating that there’s a chance that the uptrend might resume. Stochastic and RSI are both on the move up but are nearing the overbought levels, which means that sellers might take control of price action soon. Event risks for this trade include the BOE Super Thursday events, which comprise the Inflation Report and central bank statement, along with the MPC meeting minutes. Recall that the UK central bank sounded dovish in their previous policy statement, citing that they’re pushing back their time line for rate hikes. This downbeat sentiment was echoed by BOE Governor Carney in his recent testimonies, emphasizing the risks from China and falling commodity prices. ![GBPUSD Trend Line Pullback (Feb 01, 2016)] As for the US, the upcoming release of the NFP report could also have an impact on dollar price action, but Fed officials appear to be more concerned about inflation trends these days. Risk sentiment could also push the dollar around, with a return in risk aversion likely to weigh on the safe-haven currency. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpusd-trend-line-pullback-feb-01-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpusd-trend-line-pullback-feb-01-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpusd-trend-line-pullback-feb-01-2016/", "headline": "GBPUSD Trend Line Pullback (Feb 01, 2016)", "inLanguage": "en", "datePublished": "2016-02-01T09:43:26+00:00", "dateModified": "2016-02-01T09:43:26+00:00", "articleSection": "Market Info", "description": "Explore GBPUSD Trend Line Pullback (Feb 01, 2016). GBPUSD recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/gbpusd-trend-line-pullback-feb-01-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "GBPUSD Trend Line Pullback (Feb 01, 2016)", "item": "https://www.tradersway.com/resources/market-info/gbpusd-trend-line-pullback-feb-01-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```