GBPUSD – Currency Pair Remains in Overbought Territory

05.06.2024

H4: The situation hasn’t changed over the past day. The currency pair has only moved a few points away from the mark (+2/8). Currently, the price is around the line of the four-hour supertrend. From this line, we can expect a resumption of upward movement. The upper boundary of the overbought zone (+2/8) continues to be considered as the target. After breaking through this mark on the chart, there will be a redraw of the Murray levels.

Trading Decision: Buy at 1.2750, TP at 1.2817.