GBP/USD: bears start the week
The pair has been moving in a range since last Friday. The level 1.4515 acts as a resistance. It’s likely that the market is going to be lower soon. If we see a pullback from a support at 1.4393, then the price will have a chance to begin a new upwards movement towards a resistance between the levels 1.4534 – 1.4577.
There’s a flat in progress on the one-hour chart. Previously, a “V-Top” pattern was formed, which led to the current correction. So, the market is likely going to reach a support area at 1.4409 – 1.4393. If a pullback from this area appears, then bulls will probably return to the market and try to achieve a resistance at 1.4534 – 1.4577.