A technical outlook for the pound-dollar currency pair for Monday 5/6/2024

GBP/USD
1H
In the first scenario, the GBP/USD pair may witness a decline towards the demand area over a specific hourly period, where it is expected to return to the upper supply areas if the decline does not continue to lower areas. Buying can be seen from 1.2493, which is a strong area.

Selling from the 1.26713 area may also be appropriate in this scenario.