GBP/USD 4-Hour Technical Analysis: Descending Channel Breakout and Key Pivot Levels

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Source: Dukascopy Bank SA
GBP/USD on the 4-hour chart has broken out of a descending parallel channel after forming a double bottom/liquidity sweep near the 1.3470–1.3480 base, confirming a bullish reversal shift. The pair has reclaimed and successfully retested horizontal support around 1.3520–1.3530, currently holding above the 1.3539 pivot. As long as price sustains above the broken upper channel line and the 1.3520 shelf, the path of least resistance points toward an extended recovery toward 1.3600 and the swing high region near 1.3650–1.3670; conversely, a drop back below 1.3500 would invalidate the breakout and risk a retest of the channel lows.



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