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GBPUSD 24.2.2025
General Trend:
The price is moving within an ascending channel on the 4-hour timeframe, bouncing between the upper and lower channel lines. Currently, the price is approaching the upper boundary of the channel, indicating a potential downward correction.
Expected Scenario:
Bullish Scenario:
If the price successfully breaks the upper boundary of the channel, an extended bullish move could target 1.2795.
Breaking this level may push the price toward higher levels at 1.2850.
Bearish Scenario:
If the price fails to break the upper boundary, it may retreat toward the support level at 1.2545.
A break below this support could increase selling pressure, leading to a decline toward the lower boundary of the channel near 1.2450.
Key Levels:
Resistances: 1.2641 - 1.2795 - 1.2850
Supports: 1.2545 - 1.2450
Disclosure of risk: Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.
