GBP / USD Analysis

GBP / USD Analysis

Tuesday's 4-hour chart shows that there is a recent recovery trend, FXStreet analyst Yohay Elam said there is more drop for the GBP / USD pair. “The pound / dollar has risen from the 1.30 level to the lowest, but it has not been able to recover seriously. This 'dead cat bounce' - and setting lower levels - indicates weakness. Moreover, GBP / USD was unable to catch up with the bullish trend that was characterized last week. " “On the other hand, momentum remains positive and keeps above 50, 100 and 200 Simple Moving Average. In general, the bears are ahead, but the bulls did not throw towels. " “Resistance awaits at 1.3110, the highest of the day, and then at 1.3170, the peak of last week. The next resistances to follow are 1.32 and 1.3270. " “Support is at 1.3050, the lowest of the day, then at 1.3005 on Monday. It is followed by 1.2975 and 1.29. "