GBP/USD Price Analysis: Bulls hunting down 1.3380 with eyes on 1.3400

GBP/USD bulls move in at a discount and target a break of the 1.3330s.
Bulls could be encouraged to engage further beyond 1.3335 towards 1.3380 and eye 1.34 the figure.

Ross J Burland FXStreet

A per the New York session analysis, GBP/USD Price Analysis: Bulls looking for a discount to target 1.3380/90 confluence area, GBP/USD bulls bought back into the breakout at a discount. Subsequently, the price has started to move higher and is embarking on a test of the 1.3330s:

GBP/USD prior analysis H1 chart

GBP/USD update, H1 chart

A break of the area and a subsequent restest of it could lead to a continuation higher should the area act as a fresh support structure for the bulls to lean against.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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