GBPUSD *Critical Support: Watch the 1.3250−1.3280 area for support. A break below this could signal a deeper correction.
*Scenario 1 (Bullish Continuation): If the price decisively breaks above 1.3365 (15m resistance) and subsequently clears the 1.3420 area (1h/4h resistance), it could indicate the pullback is over, and the pair might target the 1.3450 highs again.
*Scenario 2 (Bearish Rejection): If the price fails to break the current resistance (1.3340−1.3360) and turns lower, expect a retest of support levels (1.3300, 1.3280, 1.3250). A break below 1.3250 would strengthen the bearish case for a larger correction towards 1.3150 or lower.
GBPUSD Pound Sterling edges higher against US Dollar in Fed-BoE monetary policy week
The Pound Sterling (GBP) ticks up to near 1.3285 against the US Dollar (USD) during European trading hours on Monday, rebounding from a fresh weekly low around 1.3260 earlier in the...