Trend Overview:
GBPUSD is currently in a bullish uptrend on the 4-hour time frame.
The trend began at 1.23000 and has seen subsequent price movements.
Key Price Levels:
First High: Reached at 1.26331.
Pullback Correction: Occurred at 1.24477, forming the first lower high.
Support Zone: Price was rejected from a strong support area between 1.24900 and 1.24600.
Recent High: Last Friday, GBPUSD made a new high at 1.27000, representing a potential resistance level.
Forecast:
Considering the rejection from the recent high, it’s likely that price will pull back toward the previous support level.
The target for this pullback is approximately 1.25742.
GBPUSD is currently in a bullish uptrend on the 4-hour time frame.
The trend began at 1.23000 and has seen subsequent price movements.
Key Price Levels:
First High: Reached at 1.26331.
Pullback Correction: Occurred at 1.24477, forming the first lower high.
Support Zone: Price was rejected from a strong support area between 1.24900 and 1.24600.
Recent High: Last Friday, GBPUSD made a new high at 1.27000, representing a potential resistance level.
Forecast:
Considering the rejection from the recent high, it’s likely that price will pull back toward the previous support level.
The target for this pullback is approximately 1.25742.