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Dec 04, 2024

The GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

The GBP/USD price is fluctuating, waiting for a negative incentive that contributes to pushing the price to break the 1.2635 level and activate the negative effect of the double top pattern and then rush towards our first negative target at 1.2566.
From here, we continue to favor the bearish trend for today unless the 1.2735 level is breached and stabilized above it.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.26900
1.26824
1.26775
1.26695
1.26621
1.26571
1.26493
EUR/USD chart on the hourly time frame

EUR/USD chart on the hourly time frame

The EUR/USD price shows sideways and weak trading since the morning, therefore, there is no change in the expected downward trend scenario for today, which depends on stability below the 1.0563 level, reminding that we are waiting for a break of 1.0475 to confirm opening the way towards 1.0400 as the next negative station.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.05119
1.05054
1.05012
1.04946
1.04883
1.04841
1.04776
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