Chart Analysis:
The GBP/USD pair is currently trading around 1.29578, facing resistance near 1.30366.
A support zone has been identified around 1.29000, which the price is testing.
If this support level breaks, we could see a bearish move toward the next target near 1.26970.
Strong support is positioned lower, which may act as a key reversal point if the decline continues.
Trading Outlook:
Bearish Scenario: If the price breaks below the current support, a drop toward 1.26970 seems likely.
Bullish Scenario: If GBP/USD holds above support, we may see a retest of resistance at 1.30366.
Conclusion:
Traders should watch for a confirmed breakout or rejection at support before taking positions. A clean break below could trigger a stronger bearish move. 🚨
The GBP/USD pair is currently trading around 1.29578, facing resistance near 1.30366.
A support zone has been identified around 1.29000, which the price is testing.
If this support level breaks, we could see a bearish move toward the next target near 1.26970.
Strong support is positioned lower, which may act as a key reversal point if the decline continues.
Trading Outlook:
Bearish Scenario: If the price breaks below the current support, a drop toward 1.26970 seems likely.
Bullish Scenario: If GBP/USD holds above support, we may see a retest of resistance at 1.30366.
Conclusion:
Traders should watch for a confirmed breakout or rejection at support before taking positions. A clean break below could trigger a stronger bearish move. 🚨
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.
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.