GBP/USD Daily Forecast – Test Of Resistance At 1.3440.

GBP/USD settled above the resistance at 1.3420 and is testing the next resistance level at 1.3440.British Pound Is Mostly Flat Against U.S. DollarGBP/USD is currently trying to settle above the resistance at 1.3440 while the U.S. dollar is flat against a broad basket of currencies.The U.S. Dollar Index is trying to get to the test of the nearest support level which is located at 96. A move below this level will open the way to the test of the next support at 95.75 which will be bullish for GBP/USD.

Technical Analysis

GBP/USD managed to settle above the resistance level at 1.3420 and is trying to settle above the next resistance which is located at 1.3440. In case this attempt is successful, GBP/USD will move towards the next resistance level at 1.3460.A move above the resistance at 1.3460 will push GBP/USD towards the resistance at 1.3500. In case GBP/USD settles above this level, it will head towards the resistance level at 1.3515.

On the support side, the previous resistance at 1.3420 will serve as the first support level for GBP/USD. If GBP/USD manages to settle back below this level, it will head towards the next support which is located at 1.3400. A successful test of the support at 1.3400 will lead to the test of the next support level at the 50 EMA at 1.3390.

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