GBP/USD to see additional gains if the 1.3640 level turns into support

GBP/USD has started the new week on a firm footing. Additional gains are likely in case 1.3640 resistance fails, FXStreet’s Eren Sengezer reports.

The first technical resistance is located at 1.3640

“The initial resistance aligns at 1.3640 (static level) and the pair could attract buyers if it manages to flip that level into support. 1.3660 (static level, January 20 high) could be seen as the next target before 1.3700 (psychological level).”

“1.3600 (psychological level) is the first support. Below that level, the ascending trend line coming from late January and the 200-period SMA form the next strong support at 1.3560. A daily close below that level could be assessed as a bearish tilt in the technical outlook.”

See: GBP/USD set to test the 1.35 level – ING