GBP/USD, Technical Analysis – H4
GBP/USD is trading inside a «Cardiogram» pattern with brief spikes beyond the horizontal range. A fresh breakout looks unlikely today, pointing to a reversal lower from the 1.3500 resistance zone.
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.
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.