Signs of Recovery or Further Weakness?

7 days agoThe 4-hour chart of GBP/USD is currently showing fluctuations in an area that could be considered as important resistance near 1.3065, just below the 34 EMA and 89 EMA. The interweaving of these EMAs at the current price level could be a sign of an impending large move that requires close attention from traders. Investors should watch closely to determine whether this is a buying opportunity before a rally or a signal to sell while the downtrend is still in progress.