GBPUSD revisits support levels, with bears gaining momentum. ...Middle East

The GBPUSD pair is currently facing downward pressure, as it approaches a recent low near the 1.2603 level. This downward move has resulted in the pair slipping below the 200-hour moving average, which stands at 1.26212. Maintaining a position below this average could further empower sellers.However, there's a notable support zone between 1.2589 and 1.2602. A decisive break below this range could intensify the bearish sentiment. If this occurs, the next key target for traders would be the 38.2% retracement of the November trading range, located at 1.25240. This level is particularly significant following the pronounced trend observed in November; breaching this retracement is crucial for con

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Last updated : 04 Dec 2023 clock 10:28 PM

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GBPUSD revisits support levels, with bears gaining momentum. ...Middle East

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