Forex analytics and overview
GBP/USD: Pair To Test Resistance
2022.04.15 15:01
Looking at GBP/USD chart, we can see it’s been trading in a channel from Apr. 9 up until yesterday’s session, bouncing between support of 1.298 and overhead resistance of 1.305.
Early during yesterday’s session, we saw it rally from the 1.3 range to the high of 1.314. Still unable to consolidate at that level, it experienced a retraction, falling back to the 1.305 level where it was last found trading.
Today we can expect a move towards the 1.314 closest overhead resistance due to the spike in positive momentum. However, if it doesn’t manage to hold on to the current level, we could expect a move close to the 1.296 support level.
GBP/USD price chart.
