GBP/USD: Good entry opportunities on the daily chart

The Pound versus the Dollar has been behaving very technical around its 200 day exponential moving average, around the 1.5459 zone. The 200 EMA first acts as resistance and as we can see on the chart, the price bounces to the downside and makes a low around the 1.5085 level. From that point the price goes back and visits the 200 EMA one more time, but this time the odds of seeing a breakout where higher and that’s what happened. Price breaks above the 200 EMA and makes a high around the 1.5816 level to come back down to its 200 EMA. Since support becomes resistance and resistance becomes support, now the 200 EMA could act as support and a bounce to the upside from the current levels is possible.