Consolidation in GBP/USD is Extending

The pair’s trading is neutral, as consolidation from 1.3026 is extending. Following pivot points include: (S1) 1.3095; (P) 1.3135; (R1) 1.3211.

Upside should be limited below 1.3337. Overcoming of 1.3038 will renew fall from 1.3651 to key support level 1.2773. Resumption of a medium term growth from 1.1946 is awaited.

The pair has met a firm resistance from the long term falling trend channel. Corrective recoil from minimum 1.1946 has completed at 1.3651. Overcoming of resistance 1.3320 will resume the growth from 1.1946 for 38.2% retracement of 2.1161 to 1.1946 at 1.5466.