- Bulls take hold of the open while the week’s outlook spells a bearish divergence.
- Bears to take the baton in sessions to come.
GBP/USD is opening the week at a critical juncture.
The monthly chart displays a positively bearish outlook while the 4-hour still has room to move higher to meet key resistance.
the following depicts the bullish outlook for the meanwhile, while the broader trend dominates.
Monthly chart
Weekly chart
Daily chart
4-hour chart
At this juncture, the bulls can prosper for a little longer until the 61.8% Fibonacci retracement of the last bearish impulse that meets prior support.
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