Current price: 1.3390
Key point: 1.3325
Our preferred strategy: Buy positions above 1.3325 with a first target of 1.3460 and then a second target of 1.3510.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3300 level, targeting the 1.3270 level.
Technical commentary
The GBP/USD pair managed to break through the downtrend line from the May peak and hold above the 200-period moving average on the four-hour timeframe and above the support level of 1.3385, so the price is expected to continue its upward movement to the 1.3460 level and then the 1.3510 level.
