Greetings, Traders,
We present to you an analysis of the GBPUSD 4-hour chart. Our observations indicate a recent bullish movement, as we successfully surpassed the previous high at 1.2680. However, it is worth noting that despite encountering resistance at the breaker block, we have not yet surpassed the current high at 1.2850. As a result, there is a likelihood of a retracement within the golden area of Fibonacci, or potentially even further, around the 79% level. This retracement, commonly referred to as a premium retracement, aims to surpass the current high and target the areas around the weekly Point of Interest (POI) in the 1.30's region.
Thank you for your attention and happy trading.
We present to you an analysis of the GBPUSD 4-hour chart. Our observations indicate a recent bullish movement, as we successfully surpassed the previous high at 1.2680. However, it is worth noting that despite encountering resistance at the breaker block, we have not yet surpassed the current high at 1.2850. As a result, there is a likelihood of a retracement within the golden area of Fibonacci, or potentially even further, around the 79% level. This retracement, commonly referred to as a premium retracement, aims to surpass the current high and target the areas around the weekly Point of Interest (POI) in the 1.30's region.
Thank you for your attention and happy trading.