GBPUSD is currently bouncing off 1.3145 support on the Daily chart below. The pound would need to clear a major big figure at the 1.3500 pivot and possibly trade above the 60 day MA in order to confirm the seriousness of this bounce.
Dropping down to the H4 and H1 charts, below you can see that cable should offer plenty of scalping opportunities. In any case, the only appropriate scalping setups look like only those on the short side, assuming the 1.3500 pivot target on the daily chart is hard to reach.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Price action would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
As always, all prior support and resistance lines were still respected and will likely continue to be.
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All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
