12:00 PM · 20 January 2021

💷 GBPUSD surges above 1.37

We can observe a strong upward move on the GBPUSD this morning. Looking at the H4 interval, we can see that the pair is once again testing the key resistance at 1.37. In the case we see a break above it, the exterior Fibonacci retracements (127.2% and 161.8%) should act as the nearest resistance levels. On the other hand, should sellers take over from here, a downward correction towards 1.3615 could be on the cards.

GBPUSD H4 interval. Source: xStation5

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