GBPUSD below an important level!

The quotations of the GBPUSD currency pair have recently been moving in an upward trend. However, looking at the H4 interval, we observe a potential change in the trend. The price retreated below the important horizontal zone at 1.2680, resulting from previous price reactions, the average EMA100 and the lower limit of the local 1:1 system (blue rectangles). Today, this level has been tested from below and the price remains below, through which a deepening of the discount is possible. If the negative sentiment continues, a move towards 1.2475, where the next key support from the broad 1:1 geometry (red rectangles) falls, is not excluded.

GBPUSD H4 interval. Source: xStation5

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Forex

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