Dear friends, currently the GBP/USD pair continues to trade within an upward channel during the early Asian trading hours on Thursday. The major currency pair has rebounded above the 1.2700 level due to risk acceptance sentiment. However, the release of the US preliminary Q4 GDP growth figures on Thursday could cause market volatility.
In the short term, the 4-hour chart indicates a potential downward correction, with a projected retreat towards the support level below 1.2700. Immediate support is located at 1.2680 before reaching 1.2650.
In the short term, the 4-hour chart indicates a potential downward correction, with a projected retreat towards the support level below 1.2700. Immediate support is located at 1.2680 before reaching 1.2650.
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