GBPUSD has found resistance at 1.2480 level after bullish rally. In this resistance level, this pair has formed double top pattern as we can see on the chart.
On H4 chart, we can see a pin bar on the resistance level which indicates sellers are active on this level.
Our recommendation is that we should stay on sell mode below this resistance.
|Currency Pair||GBPUSD H4|
|Take Profit||1.2350, 1.2300|
On the other hand, If the price break 1.2480, we can expect bullish continuation on this pair. So take buy entry after the breakout of the resistance level.
Key Levels in GBPUSD Technical Analysis:
Support Level: 1.2280, 1.2150
Resistance Level: 1.2480, 1.2620
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