The latest daily technical analysis reveals the critical support and resistance levels that GBP/USD is likely to reach today.
Looking at GBP/USD’s 4-hour chart, we can see it trending downwards since the last month after breaking through its support of 1.36185. The pair fell to 1.34185, forming temporary support, and is trading at 1.354 with overhead resistance near 1.36185.
Today we could expect a surge towards previous support, now resistance of 1.36185, and possibly consolidate.
However, if it does not manage to hold its current level, we could expect a move towards the support base at 1.34185 and possibly further below.