GBP/USD remains mildly bullish, supported by the 20-SMA on the 4-hour chart. Better risk tone is also lending support to the Cable. Fed’s expected dovish stance can further help the bulls The GBP/USD price remains mildly bullish under the 1.3800 handle. On Monday, we saw the pair rallied beyond the 1.3800 handle. But it could not sustain the buying momentum and pared off gains and came below the key level of 1.3800. –Are you interested to learn more about automated trading? Check our detailed guide- The risk tone of the market is much improved today. The soared risk sentiment is weighing on the Greenback and eventually helping the riskier assets like Pound Sterling. However, the Delta fear is not over. It’s hovering over the heads and will keep pressure on the Pound for now. The number of cases is increasing in the UK, and the government has been criticized for lifting the restrictions. Any further negative development can ruin the risk sentiment. Investors are now keenly waiting for the Fed’s interest rate and statement to find further directional bias. However, a higher probability lies in the Fed acting dovish because they need a more accommodative policy to further service their debts. GBP/USD price technical analysis: What bulls can do? Yesterday, the GBP/USD price continued its correctional rise. The price broke through the resistance level of 1.3800. Today, the upward movement has not received any further bids. Most likely, we can see the formation of a pullback movement in the direction of the 4-hour hour trendline. Get FREE Forex Signals Now! The bullish scenario will become relevant again after yesterday’s highs are broken. The MACD histogram is still in the positive zone and above its signal line, continues to grow rapidly and thus gives a signal to buy the British Pound (GBP). The Stochastic Oscillator is in the overbought zone and gives a similar signal, as the% K line rises above the% D line. GBP/USD price on 4-hour chart. Therefore, we expect that the bulls may resume, and the potential targets of the bulls are located at 1.38585, 1.38925 and 1.3939. The bullish scenario will be nullified in case of a breakdown of the support level 1.3817, which may open the way to 1.37735, 1.37305 and 1.3698. –Are you interested to learn more about forex signals? Check our detailed guide- Resistance levels: 1.38325, 1.3844, 1.38585, 1.38925, 1.39005, 1.39045, 1.3917, 1.3939 Current price: 1.3826 Support levels: 1.3817, 1.3811, 1.37995, 1.37805, 1.37735, 1.37545, 1.37465, 1.37305 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next TRON Price Forecast: TRX Double Bottom Aims $0.070, Time to Buy? Nancy Lubale 2 years GBP/USD remains mildly bullish, supported by the 20-SMA on the 4-hour chart. Better risk tone is also lending support to the Cable. Fed's expected dovish stance can further help the bulls The GBP/USD price remains mildly bullish under the 1.3800 handle. On Monday, we saw the pair rallied beyond the 1.3800 handle. But it could not sustain the buying momentum and pared off gains and came below the key level of 1.3800. -Are you interested to learn more about automated trading? Check our detailed guide- The risk tone of the market is much improved today. The soared risk sentiment is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.