GBP/USD, Technical Analysis – H4
The potential for growth toward the resistance at 1.3420 remains intact as part of a “Bull Flag” pattern continuation.
The potential for growth toward the resistance at 1.3420 remains intact as part of a “Bull Flag” pattern continuation. Afterwards, a significant downward correction is likely, driven by a fresh wave of supply and profit-taking by buyers.
Key Levels:
□ Resistance: 1.3420
□ Support: current consolidation lows
Primary Scenario:
Rise toward 1.3420 followed by a downside reversal.
Alternative Scenario:
Continued consolidation before a bullish breakout toward 1.3420.
Analyst Commentary:
The current setup allows for trading opportunities in both directions.
Николай Криштопов — рыночный аналитик Investizo с более чем 15-летним опытом работы в индустрии финансовых рынков и более чем десятилетним опытом трейдинга. В сферу его интересов входят валютный и криптовалютный рынки, технический анализ, внутридневная торговля и поведение рынка.