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- GBP/USD Price Analysis: Bears press 1.3700 critical daily support
GBP/USD Price Analysis: Bears press 1.3700 critical daily support
- GBP/USD bears move in to take on critical daily support.
- Bears eye a break of 1.3700 for a way to 1.3640s.
GBP/USD is on the verge of a break of critical support according to the following top-down analysis that illustrates the market structure across the daily, 4-hour and 1-hour charts.
GBP/USD daily chart
The daily chart shows that the price has run-up to a critical area and level of resistance between 1.3700 and 1.3750. A downside correction could be on the cards on a break below 1.37 as follows:
GBP/USD H4 chart
The 4-hour chart is on showing that the price is on the verge of a break of this current support and in doing so, there is room to the 1.3640s.
GBP/USD H1 chart
The hourly chart offers a double top confirmation as well.
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