GBP/USD, Technical Analysis – H4

The pair is trading within a “Cardiogram” pattern, marked by short-lived price spikes outside the horizontal corridor. A new breakout today appears improbable, so a reversal lower from the 1.3500 resistance zone is the more logical expectation.

Key Levels:

□ 1. 1.3500 – resistance

□ 2. 1.3550 – extended resistance

Primary Scenario:

Rise to 1.3500, followed by a reversal lower.

Alternative Scenario:

Higher correction toward 1.3550, then a reversal lower.

Analyst Commentary:

Bulls still appear relatively strong, so additional confirmation signals will be required.