GBPUSD holds bullish momentum despite renewed attempts lower
|Yesterday’s close in red and below 1.3200 handle signals near-term bulls might be running of steam, after bullish acceleration through 1.3200 was capped at 1.3270. Mixed structure of daily studies suggests prolonged consolidation, however, dips-buying scenario remains favored for renewed attempts higher. Firm break above 1.3270/1.3300 resistance zone is needed to signal bullish resumption and expose key 1.3369 barrier.
Plethora of faster MA’s (10, 20, 30 SMA) lies at 1.3115/30 zone and marks downside breakpoint, with break here expected to bring bears back to play.
Res: 1.3270; 1.3300; 1.3343; 1.3369
Sup: 1.3167; 1.3159; 1.3116; 1.3080
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