This chart is a 1-hour (1h) trading chart for the British Pound (GBP) against the U.S. Dollar (USD) on FXCM, published on TradingView. Here’s what it indicates:
1. Key Price Levels:
The current price is 1.26502, showing a slight decrease (-0.14%).
The purple box represents a resistance zone where the price has struggled to break higher.
A red horizontal line at 1.25084 marks a lower support level.
2. Technical Analysis:
The chart shows a potential bearish movement (price going down).
The blue arrows and patterns indicate a possible price rejection from the resistance zone, leading to a drop.
The short-term price action suggests