GBP/USD: Double-top to be tested at 1.3070
Monday's four-hour chart is pointing to potential gains for the GBP/USD pair while a double resistance awaits at 1.3070 as FXStreet’s analyst Yohay Elam notes.
“Momentum on the four-hour chart remains positive for cable that is battling the 200 Simple Moving Average after surpassing the 50 and 100 SMAs. Bulls remain in control.”
“Resistance awaits at 1.3070, which has capped the pair twice in February – a double-top. The next level to watch is 1.3110, capping GBP/USD in late January.”