Despite the recent GBPUSD correction from close to 1.34, risk reversals are still below zero, and their slopes also pointing down especially longer terms. With the energy and truck driver crisis GBPUSD broke the major supports and fell to long-term support zone, 1.3350-1.35. From that zone, the price gets a correction to over 1.36. But the problems remain, supply bottlenecks, high energy prices, and worker shortages are still a problem. British armed forces personal have seen driving fuel trucks recently but worker shortages news coming from lots of sectors.
From the technical standpoint, the downtrend continues but the recent correction seems healthy. 1.36-1.3670 zone can make a good resistance zone and limit further up moves. 1.3350-.1.35 is a major medium to long-term support zone which may limit the down moves for now. A decrease in volatility seems probable. If the upward price surge continues, above 1.3670, 1.3750, and 1.3840 can be followed as resistances in the near future.
