The four-hour chart of the GBP/USD currency pair indicates a neutral or ranging market. It is expected that the price will oscillate between the first support and the first resistance.
Key levels:
The first support is formed at the rate of 1.2657, which can restrict downward movements. The second support in the market is at the rate of 1.2601.
The first resistance is at 1.2763, representing a retracement level. The second resistance is at 1.2828, where increased selling pressures might be observed.
Key levels:
The first support is formed at the rate of 1.2657, which can restrict downward movements. The second support in the market is at the rate of 1.2601.
The first resistance is at 1.2763, representing a retracement level. The second resistance is at 1.2828, where increased selling pressures might be observed.
Trade closed: target reached