GBPUSD – bulls need firm break above 1.3395 Fibo barrier to signal continuation
Cable remains bid in early Tuesday’s trading but with limited upside action seen so far. Near-term structure is underpinned by rising 30SMA and thickening daily cloud, with today’s action being held at 1.3360 support (broken Fibo 23.6% of 1.3549/1.3301 downleg).
Probes through 1.3395 pivot (Fibo 38.2%) were so far brief, with sustained break needed to generate bullish signal for extension towards 1.3426 (4-hr cloud top) and 1.3454 (Fibo 61.8% of 1.3549/1.3301).
Alternatively, loss of initial support at 1.3360 would shift near-term bias lower and risk test of key supports at 1.3318 (30SMA) and near-term base at 1.3300 zone.
Res: 1.3402; 1.3426; 1.3447; 1.3454
Sup: 1.3360; 1.3318; 1.3300; 1.3280