FX.co ★ GBP/USD

Hello traders! At the moment, considering the dynamics of the GBP/USD currency pair in the market, we see that bulls are managing to develop a new upward wave, while bears have once again taken the initiative, not even allowing them to break through the bottom of the Murray regression channel at 3/8 — 1.3275, which could indeed enable further movement to the north. Currently, bears are facing a new test at the Murray reversal level of 2/8 — 1.3245, corresponding to the pair's minimum from March 19. A breakthrough of this level could lead to a movement towards the main minimum in this trend at the 1/8 level — 1.3214. Once again, the pair is oversold, so it could start an upward wave at any moment from its current positions. However, in this case, it should be noted that the northern targets are now quickly shifting southward. Therefore, in this new upward wave, we should not expect the maximum growth to reach the test of the 14-period moving average line in the middle of the Murray regression channel at the 4/8 resistance level — 1.3306.