High volatility on the Pound

The Pound versus the Dollar has had a lot of volatility during the last few sessions as shown on the daily chart. The GBP/USD has tried to break above the 1.3500 level on several occasions, but every time it tries to break above that level, it loses its bullish momentum and falls right back, leaving behind what is known as a false breakout. The pair has now fallen between the 1.3500 level and the 1.3400 level where it is stuck. We can also observe the volatility on the long shadows of the daily candles in both directions. To the downside, the zone that could act as support is the 1.3300, due to the fact that the level acted as a resistance in the past. For now the 1.3500 level is its most relevant resistance, but the 1.3600 level could also act as resistance.