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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.4001, 1.4101, 1.4215

Key Support Levels: 1.3899, 1.3824, 1.3746

Daily Chart:

The price on the higher time frame succeeded to break the strong resistance around the 1.38990 USD mark where it posted a big bodied bullish candlestick. This could lead to a further movement to the upside in the same direction of the main trend.

GBP/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the bullish flag formation to the upside. A lower correction could be seen to the highlighted zone before a new impulsive wave in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 1.3970

TP 1 @ 1.3970

TP 2 @ 1.4101

Stop Loss @ 1.3956

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

One comment

  1. Good morning, buy limit order and TP1 are tge same.
    Thank you.

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