GBP/USD failing at the gap
FXstreet.com (London) - GBP/USD indeed climbed to reach the bridge but couldn’t cross it through the offers.GBP/USD was on path to move through the gap on the hourly charts but failed at resistance with bears in the NY session denying it at 1.5435. At the time of writing, the pair are offered and oscillating around the figure.
GBP/USD lower on upside momentum
With the pair starting the week at these levels, and failing to break above the gap, requiring closes there, it appears that there is going to be a good case for the bearish trend to resume further into the week, with momentum indicators and MA’s in the red, including linear regression indicators fortifying the bears apatite. Key support is sited as low as 1.5165 while a move to the upside and closes above 1.5470 remaining above pivot point 1.5430/40 could produce a sideways channel ahead of 1.5520 resistance.
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