Bulls Poker GBPUSD!

GBP/USD Technical Analysis

- Resistance: Price encountered resistance around 1.2500 on the daily timeframe.
- *Note:A rejection at this level could signal a reversal or consolidation before further movement.

- Bearish Scenario: Close below 1.2425 → Target: 1.2302.
- Note: A break below 1.2425 would suggest a continuation of the downtrend, opening up the path toward lower targets.

- Bullish Scenario: Break above 1.2528 → Target: 1.2577, then 1.2700.
- *Note:* A close above 1.2528 would suggest a shift in momentum, possibly leading to an extended rally toward 1.2700.

H4 Support Levels:
- Key Support 1: 1.2444 (currently being tested).
- *Note:* Holding above this level suggests continued bullish momentum. A rejection here could lead to a bounce or consolidation.

- Key Support 2: 1.2352 (major hurdle).
- *Note:* A significant level. If broken, this could signal deeper bearish moves.

- Bearish Trigger:** Close below 1.2444 → Potential move to 1.2345.
- *Note:* A close below this support could shift the trend to bearish, with 1.2345 being the next major support.

Key Levels to Watch:
- 1.2425 for bearish confirmation (if price closes below).
- 1.2528** for potential bullish breakout towards 1.2700.

Note: Watch for price action around these levels for clearer directional signals in the coming days.