It is expected that GBPUSD will decrease gradually
The pair even broke the 100 simple moving average (red, 4-hours). The next major support lies at 1.2610 or the 200 simple moving average (green, 4-hours).
A downside break below the 1.2600 zone could trigger an extended decline. The next major support is 1.2520, below which the pair could decline and test the 1.2450 level. Any further losses could push the pair towards the 1.2300 zone.
On the upside, immediate resistance is near the 1.2680 level. The next key resistance is near the 1.2720 level. A close above the 1.2720 zone could open up more upside opportunities. The next stop for the bulls could be 1.2800.
A downside break below the 1.2600 zone could trigger an extended decline. The next major support is 1.2520, below which the pair could decline and test the 1.2450 level. Any further losses could push the pair towards the 1.2300 zone.
On the upside, immediate resistance is near the 1.2680 level. The next key resistance is near the 1.2720 level. A close above the 1.2720 zone could open up more upside opportunities. The next stop for the bulls could be 1.2800.
Comment:
💵EURUSD BUY NOW 1.0960💵
✔️TP1 1.0990
✔️TP2 1.1020
❌SL 1.0920
✔️TP1 1.0990
✔️TP2 1.1020
❌SL 1.0920
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