GBP-USD Analysis

This analysis includes the price movement of the British Pound against the U.S Dollars on the daily and four-hour frames, and expectations about the future movement and market direction

On the daily time frame 

The British pound against the US dollar is still in a general bullish trend and the correction is in the form of a downward triangle, but it is important not to form any new bottom and to breach the price of 1.39149 upwards to confirm the recovery of the bullish trend.

On the 4-hour time frame

On the four-hour time frame, the British pound is heading against the US dollar in an upward direction for the short term, forming a bullish price channel.
Maintaining the 1.37062 price, which represents the last important low rise to maintain the bullish scenario, and breaching it will indicate a change in the bullish trend to a bearish one.

The nearest resistance line for the current price is at the previous high at 1.39149

Tags : GBP-USD