GBP/USD Analysis: Higher Timeframes Signal Potential Delay in Rise, Bulls Dominate on Lower Timeframes
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GBP/USD
Higher timeframes
Yesterday, on the daily chart, the pound crossed the lower border of the monthly cloud (1.2893). This is an important monthly level, so it may yet have its influence and, thanks to the force of attraction, delay the continuation of the rise. If the bulls maintain activity, the upper border of the monthly cloud (1.3142) serves as their next target in this area.
H4 - H1
On lower timeframes, the bulls are developing an upward trend movement, having a clear advantage. It should be noted that during trend movement, corrective declines are as natural as rises. At the moment, we observe a corrective slowdown around 1.2957 (first resistance of the classic pivot points). Further upward targets within the day are R2 (1.2986) and R3 (1.3038). In case the current correction deepens, the chart on lower timeframes suggests the following levels as supports today: 1.2905 (central pivot point) - 1.2876 (S1) - 1.2824 (S2) - 1.2806 (weekly long-term trend). *** The technical analysis of the situation uses: Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels Lower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
