GBPUSD 29th January 2025 Daily Analysis Based on Main Key Levels 📊

Daily Current Market Price (DCMP): 1.24576

Support Below DCMP: 1.24201 (BUY/Support1), 1.24000, 1.23675

Resistance Above DCMP: 1.24851 (SELL/Resistance1), 1.25052, 1.25377

Swing High: 1.28116 | Swing Low: 1.21600

Key Technical Insights 🔍

Critical Levels: Immediate support at 1.24201 (BUY/Support1); resistance caps at 1.25377 (SELL/Resistance3).

Fibonacci Zones: Retracement anchored between 1.21600 (Swing Low) and 1.28116 (Swing High) highlights 1.242–1.250 as a battleground.

RSI: Bearish divergence forming on the 4H chart, signaling weakening upside momentum.

MACD: Line crossover near zero hints at potential volatility ahead.

Intraday Trade Setups 🚀

🟢 Intraday Buy Trade

Entry: 1.25124 (Weekly Resistance1 turned Support) 💹

Stop Loss: 1.24000 (BUY/Support2) 🔴

Take Profit 1: 1.25931 (SELL/Resistance2) 🟡

Take Profit 2: 1.27238 (SELL/Resistance3) 🟢

Rationale: Break above DCMP with RSI recovery and MACD bullish crossover could target resistance clusters.

🔴 Intraday Sell Trade

Entry: 1.25931 (Key Weekly Resistance2) 💹

Stop Loss: 1.27238 (SELL/Resistance3) 🔴

Take Profit 1: 1.24201 (BUY/Support1) 🟡

Take Profit 2: 1.23675 (BUY/Support3) 🟢

Rationale: Strong confluence at resistance aligns with bearish RSI divergence and MACD downtick.

Summary of Key Levels 📉📈

Immediate Support: 1.24201 – 1.23675

Immediate Resistance: 1.25052 – 1.25377

Swing Bias: Bearish below 1.24201; bullish above 1.25377.