From TradingView · · 40s
GBPUSD Recovery Test
Can buyers hold GBPUSD above 1.3360?
In brief
Can buyers hold GBPUSD above 1.3360? GBPUSD may sustain recovery toward 1.3400 if buyers hold above 1.3360. Originally reported by TradingView.
Market Structure
GBPUSD remains within a broader bearish structure on the 4-hour chart.
Recent Price Action
Price dropped below 1.3160 before rebounding above 1.3280.
Current Trading Level
GBPUSD trades near 1.33278 approaching resistance between 1.3340 and 1.3360.
Bullish Scenario
Break above 1.3360 could extend recovery toward 1.3400.
Bearish Scenario
Failure to hold 1.3360 may trigger decline toward 1.3240.
Key Levels
First resistance: 1.3360, second resistance: 1.3400, first support: 1.3280, second support: 1.3240.
Event Risk
U.K. and U.S. economic data may influence short-term volatility.
The one thing
GBPUSD may sustain recovery toward 1.3400 if buyers hold above 1.3360.
