GBP/USD Is Testing the Resistance at 1.4930

Those of you still interested in trading during the holidays might want to take a look at the GBP/USD chart. The pair formed a hammer candlestick above the support at 1.4800 and moved to the upside, eventually reaching the resistance at 1.4930. It’s still testing it, and I would say that a breakout above that level would mean that it will continue rising towards the next resistance at 1.4990 which coincides with the (MA)89 on the four-hour time-frame. On the other hand, if the pair bounces off the resistance at 1.4930, we can likely expect another move to the downside towards the support at 1.4870.