GBP/USD re-attempts 1.2100 as risk flows return

  • GBP/USD seems to have formed a short-term trading channel between 1.2140 and 1.2200. The Relative Strength Index (RSI) indicator on the four-hour chart holds comfortably above 50, suggesting that sellers remain uninterested for the time being.

    On the upside, a four-hour close above 1.2200 (static level, psychological level) could bring in additional buyers and open the door for an extended rally toward 1.2260 (static level) and 1.2300.

    Below 1.2140, 1.2100 (psychological level, static level) aligns as next support before 1.2075 (200-period SMA) and 1.2040 (100-day SMA).

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