GBPUSD MONTHLY CHART – 2023 HIGH STILL LOOMS
Major level remains at the 1.3142 = 2023 high
Should it be broken, I would use 1.3150 as well to confirm.
A failure to take out 1.3142 would be glaring.
On the downside, a break of 1.3076 would be needed to dent the upside risk and suggest a top is in..
Note, a weaker EURGBP (last .8469) continues to BE A Source of GBPUSD demand while EURUSD is up (slightly) on the day but lagging due to cross offsets so keep an eye on this cross.
Otherwise, a long wait until Powell’s speech.