GBPUSD is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GBPUSD continues in its current trajectory, we could see it reach 1.3416 within the next 16 hours.
Supported by Upward sloping Moving Average
Target: 1.3416 Entry: 1.3351 Stop: 1.3249