As demonstrated in the chart , the BREXIT event made a technical low and this low was made base support for many moves later on sitting at 1.28. late 2023 GBP USD tried attacking the level but failed to capture it and starting 2024 there is resistance sitting at that level not allowing price to hike. the pressure has made GBP USD turning down technically. now the resistance has moved from 1.28 to 1.27. with high inflation standing tall i expect FEDS not to cut in upcoming session . all and all technically GBP USD can run out of fuel at this level and make a turn for lower levels but first 1.22 to begin with
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