Pound Analysis (Daily Time Frame)
Despite a more than 1.2% increase in the pound last week, the price has failed to stabilize above the 1.2700 level, which may lead to a pullback towards the 1.2600 level. Therefore, in the short term, it appears crucial for GBP/USD to break above the 1.2700 level to continue its upward trend.
Main Scenario:
Consider selling positions from corrections below the 1.2834 level with targets at 1.2487 and 1.2345.
Alternative Scenario:
A breakout and stabilization above the 1.2773 level would allow the pair to continue its rise towards the 1.3043 and 1.31747 levels.
Pound Analysis (4-Hour Time Frame)
Main Scenario:
If the 1.2771 level holds, the price decline may continue towards the 1.2487 and 1.24579 zones.
Alternative Scenario:
If the price breaks and stabilizes above the 1.2771 level, an increase towards the 1.29607 area is likely.
Pound Analysis (15-Minute Time Frame)
If the price breaks the 1.27243 level, we expect a price decline towards the 1.2692 and 1.2671 areas.