GBP/USD Price Analysis: Bulls set on 1.3220

Daily prospects are towards 1.3220 following latest correction.
GBP/USD bulls await a break of near-term structure and a bullish environment.

Ross J Burland FXStreet

GBP/USD bulls are set on a break to the 1.32 area on a bullish extension following a significant retracement and mean reversion of the prior bullish impulse.

The following illustrates the price action and subsequently price analysis, forecasting the upside continuation.

Daily chart

4-hour chart

Bears might be prudent to wait for a bullish environment and a break and retest of the structure illustrated in the above chart.

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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