GBP/USD, Technical Analysis – H1

The pair is consolidating within the zone of the slanted support, which, in the current configuration, points to an approaching resolution with a downward breakout. At the same time, an actual break has not yet occurred, so the possibility that the current consolidation will continue for some time cannot be ruled out.

Key Levels:

□ 1.3330–1.3360 — Consolidation / slanted support zone

□ 1.3280 — Downside target

Primary Scenario:

Decline to 1.3280.

Alternative Scenario:

Flat within the 1.3330–1.3360 range.

Analyst Commentary:

Possible upward price moves will provide selling opportunities.