GBPUSD / UNDER BEARISH PRESSURE - 4H GBPUSD / 4H TIME FRAME
HELLO TRADERS
The price movement reflects both technical and fundamental factors. The 3.58% decline in July can be attributed to global economic uncertainties, such as inflation fears or weakening consumer demand. This decline likely hit key support levels, prompting traders to adopt a more cautious stance.
However, the 4.71% recovery in August suggests a reversal in market sentiment. This could be driven by improving macroeconomic indicators, such as better-than-expected GDP growth or reduced inflation, which restored confidence. Additionally, this rally may reflect a technical bounce off support levels, with short-term traders capitalizing on oversold conditions.
The critical resistance level of 1.326 now acts as a psychological barrier. A failure to breach this level could confirm a bearish outlook, suggesting a downtrend continuation to the next support zones at 1.309 and 1.304. Market sentiment, geopolitical risks, or adverse economic data may further pressure prices.
On the flip side, a decisive break above 1.326 would likely attract bullish momentum, setting the stage for higher targets at 1.329 and 1.335. In this scenario, buyers would anticipate further gains, with potential drivers such as positive earnings reports or an easing of economic uncertainties bolstering confidence. A sustained move above these levels could even signal a broader market rally.
UPWARD TARGET : 1.329 , 1.335.
DOWNWARD TARGET : 1.309 , 1.304
