GBP/USD Testing Crucial Support at 1.304 – Will It Hold?

In today’s analysis of the British Pound to American Dollar (GBP/USD), we can observe key levels in action as the price currently tests a significant horizontal support level at 1.304, marked with green. This level previously acted as resistance in mid-July before being broken in late August and then tested as support in mid-September. Now, the price is once again challenging this crucial support.

A bounce from this level, followed by a break above the black downtrend line, would indicate a bullish reversal, signaling a strong buy opportunity. On the contrary, if the price closes below the green support level today, it would trigger a clear sell signal, as the market would be expected to push lower. Traders should closely monitor price action around these levels to determine the next significant move in this pair.

Source: https://www.axiory.com/analytics/technical-analysis/gbp-usd-testing-crucial-support-at-1-304-will-it-h