As you see on the 4H time frame, after a downside move, price has made a higher low and is moving upwards.
There is a resistance level around 1.31600 which has pushed the price to the downside for several times in the past.
If price breaks the red resistance level to the upside and closes a bullish 4H candle above this level, I expect a rise on GBPUSD towards the next major high around 1.3220
There is a resistance level around 1.31600 which has pushed the price to the downside for several times in the past.
If price breaks the red resistance level to the upside and closes a bullish 4H candle above this level, I expect a rise on GBPUSD towards the next major high around 1.3220
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