GBPUSD ANALYSIS
At the time of press, GBP/USD was testing the descending trend line coming from November 18. In case a four-hour candle closes above that line, the 20-hour period SMA aligns as next resistance at 1.3380. Since the beginning of the week, the pair has been trading below that level and a convincing break above it could attract buyers and open the door for a more decisive recovery toward 1.3400 (psychological level) and 1.3430 (50-period SMA).
The Relative Strength Index (RSI) indicator continues to move sideways near 40, suggesting that sellers are staying on the sidelines for the time being.
On the downside, supports are located at 1.3320 (static level) and 1.3300 (psychological level).
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