Let's delve into the GBP/USD analysis with a focus on supply and demand dynamics. To grasp the current situation, take a moment to examine the 4-hour chart. .
Key Levels: A break below the 1.2620 level could trigger a bearish setup, leading towards 1.2695 and following the yellow path. Additionally, consider the potential for a sell setup around 1.2720 if the price follows the red path. It's crucial to remain attentive to these key levels and paths as they can significantly influence trading decisions. Always integrate your risk management strategy and adapt to the evolving market conditions.
Stay informed and trade wisely!
Market Catalyst:
It's important to note that the recent CPI news has made the market bearish, influencing the overall sentiment.