GBPUSD is Resting an Important Resistance Level!Great British Pound vs US DollarCFI:GBPUSDCFIThe pound is heading toward posting weekly gains for the third consecutive week, benefiting from the easing risk of inflationary pressures in the United States. This provided a positive sentiment boost for holders of major currencies like the Pound, as producer prices showed a slowdown in July, thereby reducing bets on a Fed rate hike at the September meeting. The pound is trading up 0.27% against the dollar this week, approaching an important resistance zone whose price reaction we will be monitoring. The region near $1.3550 per pound acts as an extension of a resistance line tested on 3 previous occasions; clearing that resistance could add further positive momentum to the pound's movement. As a general framework, the pound's price action can be described as moving sideways since the beginning of this year up until the time of writing this report, oscillating within a range between $1.3150 as a support zone and $1.3600 as a resistance zone. Therefore, current pound trading near an important resistance zone is crucial for determining whether the pound will break free from its sideways nature or if resistance will hold strong and keep it within the horizontal trend.