GBP/USD continues to trade in the upper half of the ascending regression channel and the Relative Strength Index (RSI) indicator on the 4-hour chart holds near 60, suggesting that the bullish stance remains intact.
A pivot level seems to have formed at 1.2950. Once this level is confirmed as support, 1.3000 (round level, static level, upper limit of the ascending channel) could be seen as next resistance before 1.3040 (static level). On the downside, supports could be seen at 1.2900 (static level, round level), 1.2850 (mid-point of the ascending channel) and 1.2800 (200-day Simple Moving Average).
A pivot level seems to have formed at 1.2950. Once this level is confirmed as support, 1.3000 (round level, static level, upper limit of the ascending channel) could be seen as next resistance before 1.3040 (static level). On the downside, supports could be seen at 1.2900 (static level, round level), 1.2850 (mid-point of the ascending channel) and 1.2800 (200-day Simple Moving Average).
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t.me/ProTrader_9
My Channel Link
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Check My Performance
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.