GBP/USD Inside of Diapason

The pair is restricted inside of 1.3026/3337 diapason. Trading stays neutral. Sustained breach of 1.3026 support will enlarge the fall from 1.3651 and align a key support of 1.2773. Following pivot points include: (S1) 1.3140; (P) 1.3177; (R1) 1.3243.

Medium term reversal is much more possible now. If further rally occurs, 61.8% retracement of 1.3651 to 1.3026 at 1.3412 will bound the upside and lead to restoration of decline.

The pair has met a firm resistance from the long term falling trend channel. Prognosis will remain neutral. Choppy breach of 1.2773 key support will affirm ending of recoil from 1.1946. Corrective increase from 1.1946 to 1.3651 will indicate that long term downtrend has finished. Breach of 1.1946 minimum is expected. Breach of 1.3835 support turned resistance will suggest trend reversal and align 38.2% retracement of 2.1161 to 1.1946 at 1.5466.