GBPUSD long view

Looking at the GBPUSD chart on the daily time frame, we see that the pair found support at 1.34000. After that, we have a recovery to the current 1.36000. We are now in an important place because the zone at 1.36000 has been our support since February. High pressure is technically created by moving averages from the top, and to continue the bullish trend, we need a break above them. Above, the next resistance awaits us in the form of a trend line, which is also an obstacle for a stronger bullish trend. For the bearish scenario, we need resistance in the current zone at 1.36000 or above resistance in moving averages. Negative consolidation will then direct us again to the previous low and increase the pressure to make a break and lower even lower on the chart.