GBPUSD, H4
On the H4, GBPUSD is in a short-term bullish trend after a substantial fall. Although indicators give very mixed signals, the price has reached 38.2 Fibonacci resistance, creating two possible options.
- A break above the 1.2530 resistance will open the way for a rise to the trendline to 1.2600;
- A rebound from the resistance and further decline will make the target support at 1.2440, corresponding to 23.6 Fibonacci.
Conclusion
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