GBP/USD Fluctuates Within a Narrow Range
GBP/USD remains in a sideways trend around the 1.2550 level on the 4-hour chart. The EMA 34 (1.2576) and EMA 89 (1.2633) act as dynamic resistances, limiting upward momentum. Key support at 1.2480 continues to serve as a strong defensive level, preventing deeper declines.
Thin trading conditions due to the holiday season have left the market lacking clear direction. The British Pound is under pressure from the strength of the USD, while buyers have been unable to push the price beyond the 1.2600 - 1.2620 resistance zone.
If the price breaks above 1.2600, the next target will be 1.2650 - 1.2700. Conversely, losing the 1.2480 support could see the pair sliding toward 1.2400. Traders should remain cautious of unexpected volatility during this low-liquidity period.
Thin trading conditions due to the holiday season have left the market lacking clear direction. The British Pound is under pressure from the strength of the USD, while buyers have been unable to push the price beyond the 1.2600 - 1.2620 resistance zone.
If the price breaks above 1.2600, the next target will be 1.2650 - 1.2700. Conversely, losing the 1.2480 support could see the pair sliding toward 1.2400. Traders should remain cautious of unexpected volatility during this low-liquidity period.
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