GBP/USD 4HR // 21 April 2024 Analysis

We saw GBP/USD breaking below the 1.25000 key level last week, retesting the area before moving down.

We can now see a downtrend forming on the 4HR timeframe.

Let's wait an see how it reacts to the trendline and the area of support and resistance marked around it.

We may not see the price reach around the trendline up until next week s this is a higher timeframe.

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We can see that GBP/USD is approaching the trendline, and has respected our marked area.

However, we can see it going higher towards the trendline.

Area of support/resistance we are looking at is around the 1.25750 area.