GBP/USD Daily chart:
Gbp/Usd 4H Chart
Gbp/Usd 1H Chart
Gbp/Usd has made a small retrace on daily & lower time frames. Currently is following the same path as it’s sister, Eur/Usd without making any significant LL on daily candles yet.
Gbp/Usd is falling down from the 4h supply (1) which as posted last week. There is a possibility to stall at (4) but the 4h demand (5) has a better probability to be hit. If the 4h demand (5) holds the price up , (3) is a very good & safe target for longs with (2) being the extreme target.
For savvy traders, the 1h wicks (2) still has some supply left on LTF