Hello traders, GBP/USD Н4
Before the weekend, the pair settled below the level of 1.3245, with the moving average acting as resistance above the quotes, serving as support for the bearish sentiment of the pair. Therefore, in this case, when the market opens, the southern direction may well continue, with the target being the support at the level of 1.3125. So, if this support level is breached, there is no need to rush to conclude that the bearish trend will continue. It is necessary to wait until the price consolidates below this level, which will be a signal for further downside movement. However, there is a possibility of a rebound from the support and a move towards the north for now, especially if the price moves above the moving average, as they could then aim for a test of the resistance at 1.3245 and higher. Wishing everyone success.
