FX.co ★ GBP/USD

Hello traders, Yesterday, the bears, during the decline on the GBP/USD pair, managed not only to push the price down to the local support level around 1.3355 but also broke through it. However, they faced difficulties in consolidating below this level, despite the passing of relatively high and steadily increasing volumes. This weakness on the bears' side, especially against the backdrop of the subsequent rise and the reversal breakout of the 1.3355 level, indicates a good chance of seeing a resumption of growth in the near term. In general, I prioritize buying, so I will be expecting a rebound from the support level at 1.3355 on the GBP/USD pair in the upcoming trading week and a continuation of the rise towards the nearest resistance level at 1.3416.