GBPUSD daily chart analysis, will the resistance break?
GBPUSD is constantly testing the 1.3150-1.3180 resistance level for the last two weeks. Each time price has pulled back a little after testing the resistance.
So far, the resistance remains intact. But repeated attempts to break the resistance indicates that a big move may occur very soon.
In my opinion, buyers should wait for a strong break of this resistance level before buying. If this resistance breaks, then 1.35 is a possibility.
On the other hand, sellers can sell at the resistance level if some bearish price action is visible and target the 1.30 area as TP.
So far, the resistance remains intact. But repeated attempts to break the resistance indicates that a big move may occur very soon.
In my opinion, buyers should wait for a strong break of this resistance level before buying. If this resistance breaks, then 1.35 is a possibility.
On the other hand, sellers can sell at the resistance level if some bearish price action is visible and target the 1.30 area as TP.