GBPUSD – Currency Pair in Overbought Territory

22.05.2024

H4: Having consolidated in the overbought zone, the currency pair continued to move upwards. The price is heading towards the (+1/8) mark. If this level does not stop the price, the next target will be the upper boundary of the overbought zone (+2/8). Breaking through this level will lead to a redraw of the Murray levels. Today, the scenario with rising quotes remains a priority.

Trading decision: Buy at 1.2695, TP at 1.2755.