Long-term review
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Overview:
- The resistance of the GBP/USD pair has been already set at the level of 1.7075, but the weekly pivot point sets at the level of 1.7000. In our opinion, we expect a range bewteen the levels of 1.6935 and 1.7075 in coming time. Therefore, according to the previous events, the prices is going to move between 1.6930 and 1.7050 today. Then it should be noted that the range today will be around 68 pips. Consequently, the trend in H1 time frame is calling for a bullish market at the level of 1.6935. Hence, above the level of 1.6090 it looks for further upside move with targets at 1.6999 and 1.7062 today. The level of 1.7062 will act as a double top in H1 chart. On the other hand, sell below the weekly resistance one at the level of 1.7075 with the first target at 1.7010; it might resume to 1.6940 in order to test the strong support around the area of 1.6835.
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