FX.co ★ Technical Analysis of Intraday Price Movement of GBP/USD Main Currency Pairs,Thursday February 22 2024.

On the 4-hour chart, the main currency pair GBP/USD shows hidden deviations between its movements and the Stochastic Oscillator indicator, plus price movements are stuck at the level of the Bullish Fair Value Gap area and are above WMA 30 Shift 2 which has an upward slope, which all this gives an indication that in the near future the Cable has the potential to strengthen so that it will try to break above the 1.2267-1.2691 level area and if the momentum and volatility support it then the 1.2771 level will be the next target that will be tried to be tested but all of these strengthening scenarios will be canceled by themselves if there is a downward correction below level 1.2586 due to the appearance of the Ascending Broadening Wedge pattern.

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