Technical Analysis of Intraday Price Movement of GBP/USD Main Currency Pairs, Monday June 03 2024.



If we look at the 4-hour chart, the main currency pair GBP/USD can be seen forming a Bullish 123 pattern followed by the appearance of a Bullish Ross Hook (RH) coupled with the Golden Cross condition of the 50 EMA which is above the 200 EMA, giving an indication that Buyers are still in control. dominant in Cable so that if in the near future there is no significant correction, especially if it does not penetrate below the 1.2680 level, then GBP/USD has the potential to continue its strengthening up to the 1.2765 level as the main target and the 1.2799 level as the next target if the momentum and volatility are supportive.


The material has been provided by InstaForex Company - #

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