Today, GBPUSD continues to maintain its steady uptrend on the 4H chart. After a brief dip toward the lower boundary and the EMA 34, buyers stepped back in — signaling that the bulls are still defending key levels.
However, price may consolidate or experience a slight pullback before continuing higher. The chart suggests a short-term correction, forming a higher low before the next bullish push.
As long as price stays above 1.2890 and the ascending channel remains intact, the overall structure continues to favor the bulls. The resistance zone above is the next key area where sellers may become active again within this upward channel.
However, price may consolidate or experience a slight pullback before continuing higher. The chart suggests a short-term correction, forming a higher low before the next bullish push.
As long as price stays above 1.2890 and the ascending channel remains intact, the overall structure continues to favor the bulls. The resistance zone above is the next key area where sellers may become active again within this upward channel.
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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.