GBP/USD: technical analysis
The GBP/USD pair has a local up-trend on the four-hours chart. The price is moving in a range between the resistance level at 1.4564 and the support level at 1.4346. It's likely that the upward movement will go further to a resistance area between the levels 1.4564 - 1.4634. At the same time, it’s a quite possible that bears are going to come back to the market afterwards.
We’ve got a local up trend and a possible “Triangle” pattern on the one-hour chart. There’s a flat in progress between the support level at 1.4408 and the resistance level at 1.4528. It seems like in the short term the downward movement will go on towards a support area between the levels 1.4473 – 1.4408. If bulls take over and the price starts rising from these levels, then it's likely that the pair will test a resistance area between the levels 1.4564 - 1.4634.