GBPUSD – the currency pair approaches support level

08.05.2024

H4: The currency pair continues to decline towards the support area formed between the daily supertrend line and the (4/8) level. This is a strong support area, so we expect a resumption of the upward movement towards the four-hour supertrend line. This scenario will be invalidated if the price consolidates below the (4/8) level.

Trading decision: Buy at 1.2450, TP 1.2520.