GBP/USD could peep above 1.33 again

Resistance – 1.3303, 1.3341, 1.34

Support – 1.3226, 1.3119, 1.30

• The inverted hammer candle formation on the daily chart following a two-day sideways move indicates the pair could head higher to 1.3341 levels. A violation there would expose 1.34
  

• On the other hand, a breakdown of support at 1.3226 (June 24 low) could yield 1.3119 (June 27 low).
  

• Day end closing below 1.3119 would mean the corrective rally has ended and the larger downtrend has resumed, thus opening doors for 1.29 handle.