Monday's four-hour chart is pointing to potential gains for the GBP/USD pair while a double resistance awaits at 1.3070 as FXStreet’s analyst Yohay Elam notes.
“Momentum on the four-hour chart remains positive for cable that is battling the 200 Simple Moving Average after surpassing the 50 and 100 SMAs. Bulls remain in control.”
“Resistance awaits at 1.3070, which has capped the pair twice in February – a double-top. The next level to watch is 1.3110, capping GBP/USD in late January.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.