GBP/USD from ThinkMarkets — TradingView

GBP/USD is trading above the support at 1.35465 today after a technical rebound from important areas. If the upward momentum continues, it is expected to test the resistance at 1.36572 and then 1.36941, while a break of the support may lead to a retest of the 1.35118 and 1.34529 levels.

Here are the details for current technical reading:
GBP/USD has staged a positive rebound from important technical support levels after a correction phase, leaving the price facing a real test of impending resistance. The currency pair successfully rebounded after correcting to a low of 1.36572 and stabilized at a high of 1.35465.

Moving Averages: Price is currently trading above the moving averages, which reinforces the positive outlook in the short term as long as we remain above the retracement zone.

Relative Strength Index (RSI): This indicator is showing its highest level yet (50), but the presence of a descending curve may indicate weaker buying momentum in the near term.

Bullish scenario:
Stability and price stability above the 1.35465 level may push the price to test the resistance at 1.36572, upon which the target may extend to 1.36941.

Alternative:
Stable below 1.36572. The pair may enter a consolidation move, awaiting a breakout on buying momentum.
However, if we return to the downtrend and break the 1.35465 level and stay below it, we could retest the support area at 1.35118 – 1.34529.

Monitoring level (critical level)
• Resistance levels: 1.36572 – 1.36941
• Support bits: 1.35465 – 1.35118 – 1.34529
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