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22.12.2023 07:52 AM
GBP/USD H4 | Neutral bias
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The GBP/USD chart is currently displaying a neutral momentum and the price could potentially fluctuate between the 1st support and the 1st resistance.

Resistance Levels:

The 1st resistance at 1.2794 is categorized as a "Multi-swing-high Resistance", indicating its potential to deter upward price movements. Additionally, the 2nd resistance at 1.2870 is categorized as a "Pullback Resistance", emphasizing its role as a substantial barrier to further advances.

Support Levels:

On the support side, the 1st support at 1.2619 is recognized as an "Overlap Support". This level suggests a zone where buying interest may emerge, potentially providing support to the price. Furthermore, the 2nd support at 1.2505 is also characterized by a "Swing-low Support", reinforcing its significance as a substantial support zone.

Dean Leo,
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