GBP/USD Price Analysis: Bulls running into a wall of resistance

Bulls take hold of the open while the week's outlook spells a bearish divergence.
Bears to take the baton in sessions to come.

Ross J Burland FXStreet

GBP/USD is opening the week at a critical juncture.

The monthly chart displays a positively bearish outlook while the 4-hour still has room to move higher to meet key resistance.

the following depicts the bullish outlook for the meanwhile, while the broader trend dominates.

Monthly chart

Weekly chart

Daily chart

4-hour chart

At this juncture, the bulls can prosper for a little longer until the 61.8% Fibonacci retracement of the last bearish impulse that meets prior support.

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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