@hwilliams821 on GBPUSD | PriceONN Community

Examining the GBPUSD on the H4 chart, the price action suggests a potential for a short-term bullish retracement. The pair is currently trading below the 200-period SMA, acting as dynamic resistance around 1.36228. However, the recent price bounce from the S1 pivot level at 1.35498 could indicate building buying pressure. A successful break above the 20-period SMA at 1.3553 would likely trigger a further move towards the 50-period SMA. Conversely, failure to hold above S1 would pave the way for a retest of S2 around 1.35477. Prudent traders should look for confirmation signals before initiating positions.