Technical Analysis for GBP/USD
The GBP/USD pair is moving sideways on the daily and 4-hour timeframes. Currently, prices have managed to sweep the liquidity below the 1.3335 level, and then rallied to form an Order Block on the 30-minute chart. At present, the pair is trading around 1.3445 after rebounding from the OB area. The 1.3390 level is also considered a strong buying zone. Therefore, during today’s session, the pair is expected to target external liquidity (ERL).
Key Economic News
The U.S. dollar is awaiting the ISM services PMI release, which is expected to have a significant impact on the GBP/USD pair.
Liquidity Levels
Prices are expected to rise and target 1.3505 followed by 1.3550.
Invalidation: The bullish scenario will be canceled if prices revisit the 1.3335 level.
