GBPUSD – Anticipating a Decline

01.05.2024

H4: Having failed to overcome the resistance at the (6/8) level and the weekly supertrend line, the currency pair has resumed its downward movement. The price locally found support on the daily supertrend line. Against this backdrop, a slight price retracement upwards can be expected intra-day, but the medium-term priority remains a downward price vector aiming for the (2/8) level.

Trading decision: Sell at 1.2530, TP at 1.2330.