Chart Overview:
The 4-hour GBP/USD chart shows a strong uptrend contained within a rising channel.
The price has recently reached the upper boundary of the channel and is showing signs of rejection, indicating a possible pullback.
A downside move towards 1.27736 is anticipated, which aligns with a key support level.
Technical Outlook:
If the price respects the resistance zone, a retracement toward the 1.27736 target could be expected.
A confirmed break below this level could open the door for further downside.
However, if bullish momentum resumes, the price may attempt to break above the 1.3000 psychological level.
Trading Plan:
Short-term traders may look for selling opportunities targeting 1.27736.
Long-term traders may wait for a bullish reaction at support for potential continuation of the uptrend.
Key Levels:
Current Price: 1.29574
Support Target: 1.27736
Resistance: 1.3000
Would you like to add further details or modify the description
The 4-hour GBP/USD chart shows a strong uptrend contained within a rising channel.
The price has recently reached the upper boundary of the channel and is showing signs of rejection, indicating a possible pullback.
A downside move towards 1.27736 is anticipated, which aligns with a key support level.
Technical Outlook:
If the price respects the resistance zone, a retracement toward the 1.27736 target could be expected.
A confirmed break below this level could open the door for further downside.
However, if bullish momentum resumes, the price may attempt to break above the 1.3000 psychological level.
Trading Plan:
Short-term traders may look for selling opportunities targeting 1.27736.
Long-term traders may wait for a bullish reaction at support for potential continuation of the uptrend.
Key Levels:
Current Price: 1.29574
Support Target: 1.27736
Resistance: 1.3000
Would you like to add further details or modify the description
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.