GBPUSD POSSIBLE SCENARIOS

GPBUSD price is still tehnically in an UPTREND on 4H chart with the UPTREND line extending from MAY, we now have price back at the level of resistance where price rejected in October 21st.

Rejection in this zone will set price lower with target at the next level of support around 1.2900.

WHILE a move above the resistance zone at 1.3176 with retest holding will set price higher with target at the next level of resistance @ 1.3400 zone.

It worth to know we had a BULLISH ENGULFING weekly candle from last week.