Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The British pound experienced negative trading against the U.S. dollar following a retest of the The technical outlook for GBP/USD remains unchanged, with the pair showing continued negative stability below the critical resistance level of 1.2730.
Technical Analysis:
- Bearish Indicators:
- The 4-hour chart reveals a bearish technical structure supporting downward momentum.
- Trading remains stable below the primary resistance level at 1.2730, reinforcing the likelihood of a bearish trend.
Scenario Analysis:
- Bearish Scenario (Most Likely):
- As long as the pair trades below 1.2730, the downward trend is expected, with targets at 1.2660 and 1.2600.
- A confirmed break below 1.2600 could accelerate bearish momentum, paving the way for a move toward 1.2570.
- Bullish Alternative:
- A sustained break above 1.2730, with at least one hourly candle closing above this level, could invalidate the bearish outlook.
- This shift would likely trigger an upward trajectory, targeting 1.2780 and extending to 1.2840.
Key Considerations:
The risk level is elevated due to geopolitical uncertainties, making robust risk management essential as all scenarios remain possible.
High-Impact Economic Data:
Today’s release of U.S. “Weekly Unemployment Claims” could introduce significant volatility, impacting GBP/USD movements.
Risk Warning:
Disclaimer: Trading in CFDs carries inherent risks. The analysis provided herein is not a recommendation to buy or sell, but rather an interpretation of the current price movement on the chart.
| S1: |