Pound Analysis (Daily Time Frame)
The British pound is in an upward trend on both the daily and weekly time frames, continuing its growth following last week’s fundamental news. On the daily chart, after breaking and consolidating above previous swing highs, further price increases are expected toward the monthly order block.
Potential rejection and price decline are anticipated around the 1.33, 1.34, and 1.35 zones, which are valuable areas for sell positions.
If the price reaches the 1.32 and 1.31 zones, these levels offer opportunities to test buy trades, as they may present support and potential for upward movement.
Pound Analysis (4-Hour Time Frame)
The structure of the British pound on the 4-hour time frame is bullish, and after breaking the 1.326 swing highs, it has formed a new range. Since the price has not yet revisited the discount zone after the previous break, a retracement to the 1.32 area is expected, which offers a suitable entry for buy positions.
If the price stabilizes above the 1.33 level, we can expect further price increases toward 1.342 and potentially 1.369 as the next resistance levels. These areas could offer opportunities for potential upside continuation.