FX.co ★ dusty24 | GBP/USD

GBP/USD

Sunday's technical analysis of the pair on the 4-hour chart. Here, the price at the level of 1.3050 tested the timeframe minimum and then corrected upwards from there. The strength was enough only to reach the middle of the trend. From the level of 1.3545, the price started to work off a large red zone, a blue zone that was just beginning to form, which could be used as a resistance level during a decline. The price may fully test the red zone, return to the level of 1.3050, and then retest the minimum there. The oscillator indicates that the price is overbought. It is reaching its maximum, will finish working in the positive zone, and will move downwards.