Forecast Based on the Chart:
Support Level: Around 1.2990 (marked with a red horizontal line).
Resistance Level: Around 1.3060 (marked with a red rectangle).
Pattern & Projection:
Price appears to be consolidating near support.
A potential bounce from this support level could push GBP/USD toward the 1.3060 resistance area.
If resistance is broken, further upside movement could be expected.
If support fails, a decline toward 1.2970–1.2950 is possible.
Conclusion:
The bias is bullish if support holds, with a target of 1.3060. A breakout above that level could lead to a stronger upward move, while a drop below support may trigger a pullback.
Support Level: Around 1.2990 (marked with a red horizontal line).
Resistance Level: Around 1.3060 (marked with a red rectangle).
Pattern & Projection:
Price appears to be consolidating near support.
A potential bounce from this support level could push GBP/USD toward the 1.3060 resistance area.
If resistance is broken, further upside movement could be expected.
If support fails, a decline toward 1.2970–1.2950 is possible.
Conclusion:
The bias is bullish if support holds, with a target of 1.3060. A breakout above that level could lead to a stronger upward move, while a drop below support may trigger a pullback.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.