Weak price action in the 4Hour chart could drag GBP/USD lower
Hello everyone, we are seeing some weak price action in the 4Hour chart
which could bring the price closer to the 1.26 level.
📌GBP/USD rebounded almost 185 pips after hitting the lows at the 1.2550
level on Friday.
📌Also if you switch to the daily chart, you can see a high probability of a
reversal as GBP/USD is consolidating in the 100-day moving average region(daily
chart analysis is attached below)
📌So, even if GBP/USD reaches the 1.2550 level, I would consider that a buying
opportunity with immediate TP at 1.28
which could bring the price closer to the 1.26 level.
📌GBP/USD rebounded almost 185 pips after hitting the lows at the 1.2550
level on Friday.
📌Also if you switch to the daily chart, you can see a high probability of a
reversal as GBP/USD is consolidating in the 100-day moving average region(daily
chart analysis is attached below)
📌So, even if GBP/USD reaches the 1.2550 level, I would consider that a buying
opportunity with immediate TP at 1.28
