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GBPUSD 4H NEW FORECAST
The GBP/USD price found strong support at the 1.2580 level.
It shows some upward bias and is approaching a retest of the broken neckline of the double top pattern shown on the chart.
The 50 moving average forms negative pressure against the price, to support the chances of continuing the bearish corrective trend, whose targets extend to 1.2480 after surpassing the previous level.
The continuation of the bearish wave depends on stability below 1.2700.
Breaking it is the key to returning to the main bullish path and heading towards achieving gains that begin by visiting the 1.2800 areas.
The expected trading range for today is between the support at 1.2580and the resistance at 1.2700.
GBPUSD 4H NEW FORECAST
The GBP/USD price found strong support at the 1.2580 level.
It shows some upward bias and is approaching a retest of the broken neckline of the double top pattern shown on the chart.
The 50 moving average forms negative pressure against the price, to support the chances of continuing the bearish corrective trend, whose targets extend to 1.2480 after surpassing the previous level.
The continuation of the bearish wave depends on stability below 1.2700.
Breaking it is the key to returning to the main bullish path and heading towards achieving gains that begin by visiting the 1.2800 areas.
The expected trading range for today is between the support at 1.2580and the resistance at 1.2700.
