On Monday, the GBP/USD pair hit a low of 1.0364, according to the four-hour chart. After that, it marginally steadied during the last few days. The Klinger Oscillator increased to its highest level since September 14 as the pair rose just above the conventional pivot point’s first support.
Additionally, it appears to have developed a bearish flag pattern. When a result, the pair is most likely to experience a bearish breakout as the market evaluates the BoE’s moves. If this occurs, 1.0400 will be the next significant support level to keep an eye on.
• There is resistance 1.08608 followed by resistance at 1.10506 and 1.11500
• There is support at 1.07640, Below, there is 0.07020 and 1.06868
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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