GBP/USD, Technical Analysis – H4
GBP/USD remains in a short-term uptrend but is nearing a major psychological resistance level that could limit further gains.
The pair maintains a local uptrend but is approaching a significant resistance zone around the round psychological level of 1.3500. Considering it is Friday, when markets typically wind down and quieten ahead of the weekend, the probability of breaking through this barrier appears very low.
Key Levels:
□ 1.3500 — strong psychological resistance
□ 1.3600 — next upside target
Primary Scenario:
Rise toward 1.3500, followed by a downward reversal.
Alternative Scenario:
Flat trading around current levels.
Analyst Commentary:
Long positions are preferable, but profits should be taken at 1.3500.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.