This 1-hour GBP/USD price chart highlights a well-defined resistance zone around 1.2960 and a support zone near 1.2870. The price has been fluctuating between these levels, forming a descending trendline. The chart suggests a potential rejection from the trendline, leading to a downward move toward the support zone. Traders may look for confirmation before entering short positions, as price action could test resistance again before breaking lower. Key support and resistance levels should be monitored for potential breakouts or reversals
NOTE
TRADE ON YOUR OWN RISK THIS IS NOT SIGNALS ITS MY PERSONAL ANALYSIS
NOTE
TRADE ON YOUR OWN RISK THIS IS NOT SIGNALS ITS MY PERSONAL ANALYSIS
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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.