| Analysis and forecast for GBP/USD on February 9, 2021 2021-02-09 In yesterday's trading, the GBP/USD currency pair showed a relatively small increase, as a result of which it ended Monday's trading by only 2 points, but above Friday's closing price of 1.3733. At the time of writing this article, the British pound sterling is showing a much more significant strengthening against the US dollar. Daily 
As can be seen on the daily chart of the GBP/USD currency pair, in the current period, there is a breakdown of a fairly strong resistance level of 1.3756. The ending of all this will become clear after the closing of today's trading session. In the meantime, let's outline the possible scenarios. In the event of a true breakdown of the sellers' resistance at 1.3756, with a mandatory consolidation above this mark, the British pound will have excellent chances to continue its upward momentum. In this scenario, the next target of the bulls for the pound will be the previously mentioned strong and important price zone of 1.3800-1.3820. If the breakdown of the resistance level of 1.3756 turns out to be unsuccessful and a bearish candlestick analysis model appears on the daily chart, it is worth preparing for the subsequent decline of the pair, which means its sales. And yet, despite the bearish divergence of the MACD indicator, the upward scenario for the pound looks the most preferable. However, everything is the will of the market, so the alternative scenario should never be discounted. H4 
Regarding this timeframe, we see one candle that has already closed above the resistance level of 1.3756. It is worth noting the confident and fairly solid growth of the British currency, as can be seen from the last closed white candle. At the time of writing, the pair was already rolling back to 1.3760, from where it quickly began to recover its losses and is now preparing for the continuation of the upward trend. Since the pullback has already occurred after the breakdown of 1.3756, I recommend that for those who want to buy on the market, and even at its current peak, open long positions right here and now with targets in the area of 1.3800-1.3820. There is little certainty that the mark of 1.3800 will be passed (if at all) on the first try. The level is very strong and difficult to pass. The appearance of bearish candlestick patterns in the price range of 1.3800-1.3820 will be a signal to open sales with small targets within 40 points. The current trend for the GBP/USD pair is upward, so it is better to open positions according to the trend, that is, consider buying the British currency. I would like to note an important macroeconomic event for sterling, which will be the preliminary GDP data for the fourth quarter of last year. These statistics will be published on February 12, at 08:00 London time. Today, in my opinion, there are no significant and important statistics for the GBP/USD pair. But tomorrow at 14:30 (London time), important macroeconomic indicators from the United States on changes in consumer prices will be published. It is likely that the indicated statistics from the United States and the United Kingdom will have an impact on the price dynamics of the pound/dollar currency pair in the weekly cycle. At this stage of time, I consider the main trading idea for GBP/USD to be purchases that are better planned after a short-term pullback of the pair to the area of the broken resistance of 1.3756, or rather, from the price zone of 1.3765-1.3755. Trading idea for silver 2021-02-09  Silver started to rally, after collapsing from $ 30 earlier. In fact, quotes have retraced by 61.8%, opening a very good opportunity to trade short positions in the market.  At the time of writing, quotes have formed a wave pattern (ABC), wherein wave A is the bearish initiative from $ 30. Taking this into account, it is a good idea to open short positions from current prices, the targets of which are the 61.8% ($ 29) and 50% ($ 30) retracement levels. Take profit as soon as silver reaches $25.8, $24.0 and $21.5. Of course, traders need to carefully assess the situation before placing any position. As we all know, trading is very precarious, but profitable as long as a correct strategy is used. The plan above follows Price Action and Stop Hunting methods. Good luck! Technical analysis of GBP/USD for February 09, 2021 2021-02-09   Overview : On the H1 chart : The GBP/USD pair continues to move upwards from the level of 1.3703. Yesterday, the pair rose from the level of 1.3703 (the level of 0.9866 coincides with a ratio of61.8% Fibonacci retracement) to a top around 1.3780. Today, the first support level is seen at 0.9866 followed by 1.3703, while daily resistance 1 is seen at 1.3788. According to the previous events, the GBP/USD pair is still moving between the levels of 1.3703 and 1.3926; for that we expect a range of 223 pips (1.3926 - 1.3703). On the one-hour chart, immediate resistance is seen at 1.3788, which coincides with a ratio of 100% Fibonacci retracement. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100) and (50). Therefore, if the trend is able to break out through the first resistance level of 1.3860, we should see the pair climbing towards the daily resistance at 1.3926 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 1.3650. On monthly chart : The GBP/USD pair dropped sharply from the level of 1.5135 towards 1.1411. Now, the price is set at 1.3700. On the H1 chart, the resistance is seen at the levels of 1.4000 and 1.5135. Volatility is very high for that the GBP/USD pair is still expected to be moving between 1.3700 and 1.5135 in coming weeks. In the long term, we expect the GBP/USD pair to continue to trade in a bullish trend from the new support level of 1.3700 to form a bullish channel. Also, it should be noted that major resistance is seen at 1.5135, while immediate resistance is found at 1.4000 . According to the previous events, the pair is likely to move from 1.3700 towards 1.4000 and 1.5135 as targets. However, if the pair fails to pass through the level of 1.5135, the market will indicate a bearish opportunity below the level of 1.5135. So, the market will decline further to 1.3000 in order to return to the monthly support. Moreover, a breakout of that target will move the pair further downwards to 1.2080.
Author's today's articles: Ivan Aleksandrov  Ivan Aleksandrov Andrey Shevchenko  Andrey Shevchenko Mourad El Keddani  Was born in Oujda, Morocco. Currently lives in Belgium. In 2003 obtained B.S. in Experimental Sciences. In 2007 obtained a graduate diploma at Institut Marocain Specialise en Informatique Applique (IMSIA), specialty – Software Engineering Analyst. In 2007–2009 worked as teacher of computer services and trainer in a professional school specializing in computer technologies and accounting. In 2005 started Forex trading. Authored articles and analytical reviews on Forex market on Forex websites and forums. Since 2008 performs Forex market research, and develops and implements his own trading strategies of Forex analysis (especially in Forex Research & Analysis, Currency Forecast, and Recommendations and Analysis) that lies in: Numerical analysis: Probabilities, equations and techniques of applying Fibonacci levels. Classical analysis: Breakout strategy and trend indicators. Uses obtained skills to manage traders' accounts since 2009. In April 2009 was certified Financial Technician by the International Federation of Technical Analysts. Winner of several social work awards: Education Literacy and Non-Formal Education (in Literacy and Adult Education in The National Initiative for Human Development).
Languages: Arabic, English, French and Dutch.
Interests: Algorithm, Graphics, Social work, Psychology and Philosophy.
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