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Jan 29, 2025

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

The GBP/USD price tested the 1.2415 level and started bouncing upwards from there, so the bullish scenario remains valid and effective for the upcoming period, reminding that the next target is at 1.2609.

On the other hand, it should be noted that breaking 1.2415 will stop the bullish wave and return the price to the main bearish path again.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.24700
1.24635
1.24591
1.24524
1.24457
1.24420
1.24349
EUR/USD chart on the hourly time frame

EUR/USD chart on the hourly time frame

The narrow range continues to control the EUR/USD price trading, which keeps the bearish trend scenario intact for the upcoming period, waiting to visit the 1.0325 level as the next main target.

Stability below 1.0455 is important for the expected decline to continue, as breaking it represents the key to resuming the upward correction and achieving additional gains reaching 1.0600.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.04471
1.04381
1.04317
1.04225
1.04128
1.04075
1.03977
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