Facing resistance at 1.3360 and 1.3390
On the upside, GBP/USD is facing static resistance at 1.3360. In case a four-hour candle closes above that level, buyers could target 1.3430 (100-period SMA) and strong resistance 1.3520. This is also the zone where the sellers are ready to return to the market if there is a signal.
In the meantime, if the bulls fail to push the price above 1.3360 - 1.3390, there could be an opportunity for the bears to return to the market and continue to push the GU down towards the 1.3270 and 1.3160 targets.
In the meantime, if the bulls fail to push the price above 1.3360 - 1.3390, there could be an opportunity for the bears to return to the market and continue to push the GU down towards the 1.3270 and 1.3160 targets.
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