GBP/USD

The British pound has been struggling to break the 1.3525 resistance for the third consecutive day. The probability of a successful breakout exceeds 50%, as the price has settled above the balance line (red moving average) and has unsuccessfully dipped below it with lower wicks three times in the last five bars.

Overcoming this resistance will allow the price to target the MACD line at 1.3590, which coincides with the May 26 high. The next target could be 1.3631 — the June 13 high. The pound is likely trying to capitalize on the weakened US labor market, with data expected to be released on September 5.

On the four-hour chart, the price is moving between the balance line and the MACD line (coinciding with the 1.3525 resistance). The Marlin oscillator is in the positive zone, helping the price consolidate and build upward momentum. Today is a holiday in the US and Canada.