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22.11.2021 09:47

GBP/USD Price Analysis: Bears seeking a break of key 1.34 support

  • GBP/USD is consolidated in the opening session but the focus is on a test of 1.34 the figure. 
  • Bulls will need to see 1.3500 cleared for a run to 1.3550. 

GBP/USD is at a crossroads at this juncture considering the support structure, both horizontal and dynamic. The bulls could be looking to engage here which would see the price headed back towards 1.35 the figure again and potentially onward to 1.3550.

GBP/USD daily chart

On the downside, as illustrated above, a break of the support structure is what the bears will be looking for with a subsequent continuation of the dominant trend. 

GBP/USD H4 chart

On the 4-hour chart and on a break of support, bears could seek to engage with a restest of the area near 1.34 the figure that would be expected to act as resistance.  


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