empty
 
 
24.01.2024 04:35 AM
GBP/USD H4 | Bearish continuation expected

This image is no longer relevant

The GBP/USD (British Pound/US Dollar) chart analysis suggests a potential bearish scenario with a continuation toward the support levels:

Resistance Levels:

The 1st resistance level at 1.2699 is labeled as "An Overlap resistance." This level represents a significant resistance zone where sellers may dominate.

The 2nd resistance level at 1.2746 is identified as "Swing high resistance." It signifies another resistance level that traders should consider.

Support Levels:

The 1st support level at 1.2649 is described as "Multi-swing low support." This level could act as a key support zone where buyers might enter the market.

The 2nd support level at 1.2613 is also labeled as "Multi-swing low support." It represents an additional support zone below the first level.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback