GBP/USD Prepares for Potential Rebound at Crucial Support Levels
On the 4H timeframe, GBP/USD is trading near a critical support zone around 1.2350, showing signs of potential exhaustion in its recent downtrend. The RSI indicates a possible bullish divergence, suggesting momentum could shift upward. Price action reflects repeated support bounces in this range, making it a significant level to watch.
Key resistance lies around 1.2500 and 1.2550, where sellers may re-enter if the pair retraces. A break below 1.2300, however, could trigger further downside toward the 1.2200 level. Keep an eye on reversal confirmations and volume around current levels for short-term bullish opportunities.
Key resistance lies around 1.2500 and 1.2550, where sellers may re-enter if the pair retraces. A break below 1.2300, however, could trigger further downside toward the 1.2200 level. Keep an eye on reversal confirmations and volume around current levels for short-term bullish opportunities.
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