GBP / USD tests daily downtrend despite the bullish trend GBP / USD is trading around the 1.2725 of daily declines. However, the 4-hour chart on Friday draws a positive picture
GBP / USD tests daily downtrend despite the bullish trend
GBP / USD is trading around the 1.2725 of daily declines. However, the 4-hour chart on Friday draws a positive picture for bulls. Also, SMA and acceleration are in the positive part.
“GBP / USD trades above the 50, 100, and 200 Simple Moving Average on the 4-hour chart, forming the highest and lowest level. Momentum has weakened a little but it moves up. "
“Resistance is at 1.2773, the highest level of the day. After this level, 1.2815 level, which is the peak of June, is waiting.
“Support is initially seen in 1.2715. This level is followed by the 1.2670 level. The next levels are 1.2645 and 1.2610. "