GBPUSD – waiting for retest of the level (1/8)

07.02.2024

GBP/USD four-hour chart. From the reversal level (1/8) we saw a good corrective pullback. The price managed to rise above the four-hour supertrend line and the level (2/8). This is a good signal confirming the possibility of the reversal scenario realization. Against this background, we can expect a pullback from the current positions to retest the support near the mark (1/8). In the medium term, we expect the quotes growth to the main support/resistance level (4/8).

Recommendations: Buy 1.2512, TP 1.2635