The British pound range below the resistance of 1. 3165

The British pound is flat against the US dollar, and as long as the resistance at 1,365 remains in place, one can expect another downward movement. From the sellers’ point of view, the break of 1,2971 indicates the recovery of the long-term bearish rally starting from 1,4248, and the 61.8% Fibonacci estimate at 1,2900 will be the next GBPUSD target.

According to buyers, if the pair crosses above the resistance of 1,365, the formation of a short-term price floor at 1,2971 will be confirmed and the British pound can jump to the resistance of 1,3297.

* Technical H4 analysis of GBPUSD

* Technical daily analysis of GBPUSD