GBP/USD Aligning The Resistance

The pair is aligning 1.3337 resistance. Strong breach in that area will indicate that decrease from 1.3651 has ended. Another increase should head towards 61.8% retracement of 1.3651 to 1.3026 at 1.3412. Following pivot points include: (S1) 1.3277; (P) 1.3307; (R1) 1.3333.

Decisive breach will align a test on the level of 1.3651. After a breach of 1.3212 minor support, trading will turn up on the downside towards a repeat test of 1.3026. If that happens, fall from 1.3651 would expand.

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. Breach of 1.2773 will argue bearishness and align a test on 1.1946 minimum. 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.