GBP/USD Price Analysis: Bulls need support to hold bearish pressures

GBP/USD is denying the bulls a clean break to the upside.
Bulls remain in play while above the critical support.

Ross J Burland FXStreet

In an update to yesterdays analysis, GBP/USD Price Analysis: Bulls could emerge again on test of 1.3080, the price action of cable has been bearish within a bullish setup, although the support structure holds and so long as it does, the bias remains with the upside.

The following illustrates the daily bullish prospects followed by a 4-hour chart analysis where price action can be monitored from:

Daily chart

4-hour chart

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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