GBP/USD: The picture is mixed

GBP/USD Wednesday's four-hour chart is painting a mixed picture, as FXStreet’s analyst Yohay Elam notes.

Key quotes

“GBP/USD has failed in its attempt to top the 50 Simple Moving Average on the four-hour chart, but momentum remains to the upside.”

“Support awaits at 1.2225, a swing high earlier this week, followed by 1.2165, a former double bottom. It is followed by 1.2075, May's low.”

“Some resistance is at 1.2270, a swing low from early May that has also held the pair down recently. Tuesday's high at 1.2295 is the next level to watch.”