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25.07.2023 07:45 AM
GBPUSD, H4 | Potential Bullish Reversal?

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The GBP/USD chart shows bullish momentum with potential for further upward movement. A possible scenario involves a bullish bounce off the 1st support at 1.2824 (61.80% Fibonacci retracement), leading to the 1st resistance at 1.2905. This resistance is an overlap resistance (38.20% Fibonacci retracement). The 2nd support at 1.2676 (78.60% Fibonacci retracement) and the 2nd resistance at 1.3002 (61.80% Fibonacci retracement) are also crucial levels affecting price movement.

Dean Leo,
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