GBPUSD bounces from post Brexit lows

GBPUSD bounces from post Brexit lows

Key Support: 1.3654
Key Resistance: 1.40 – 1.420

The GBPUSD has been rallying since it bottomed at around 1.15 back in January 2020. The 1.3500 zone was a struggle for buyers since this level was the retest of the post Brexit lows break. Historically a KEY level.

In the shorter time frame price is trading inside a nice structured bullish move (blue channel) and we are trading above the weekly pivot. In order for us to have a long entry validity we need price to break with the monthly and the POC of the entire volume of the bull flag (white channel). Here and only here will the bullish continuation be valid.

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Author : Orlando Gutierrez

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