GBPUSD price action has been choppy this week, fluctuating above and below the 2024年9月跌幅回撤61.8%, which sits at 1.2922.

In today’s session, price action continued to test this level, trading both above and below it during 亚洲和欧洲早间营业时间. Softer 美国CPI数据 initially pushed the pair to a 1.2988新高, but momentum faded, leading to a pullback. However, the decline found support at 1.2922, reinforcing its significance.

Drilling down to the 小时图表如下, dips earlier in the European session stalled ahead of the 100小时均线上升, a bullish sign. Post-CPI, the retracement held just above the higher 61.8%水平, further confirming buyers’ control.

Going forward, as long as retracement at 1.2922和100小时MA (blue line on the chart below currently at 1.2912) hold as support, the bullish bias remains intact.

The next upside targets are the 心理和自然水平在1.3000水平, followed by the 1.3044 - 1.3058回转区 on the 4-hour chart. A sustained move above these levels would further strengthen the bullish case, while a break below key support (61.8% and 100 hour MA) would shift momentum back in favor of sellers.