GBP/USD Price Action


There we have a GBP/USD pair at the 4h Timeframe. As we can see we have a nice downtrend at the moment.

The price was in the consolidation area below the 1.38548 resistance zone.

If the price will close above the 1.38548 zones of support, we can see a nice continuation into the next resistance in near future. 

If the price will close below the 1.38548 zones, we can see a bearish trend continuation in to the second support.

The next important resistance is 1.38548

The next important support is 1.37485