Yesterday GBPUSD tested resistance at 1.3370 but with no avail. Today demand continues and the mentioned level should be tested again. That task won’t be easy because that level is the upper limit of the side trend channel in which the price has been moving since June 27.
If the price crashes through that resistance, it will be very important for further trend direction and it could start new uptrend wave. However, it is more likely that the price will rebound from 1.3370 and it will fall into direction 1.2860 (lower limit of channel – red lines at the charts below).
