GBP/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.4001, 1.4100, 1.4150
Key Support Levels: 1.3899, 1.3824, 1.3746
The price on the higher time frame failed to break the 1.3899 USD mark, and it posted an engulfing bullish pattern which signals a potential of a reversal and then the move came to the upside in the same direction of the main trend.
GBP/USD Medium-Term Trend: Bullish
On the lower time frame, the price succeeded to break the wedge formation to the upside after posting an accumulation phase. We expect a lower correction to the neckline of this pattern before a new impulsive wave to the upside.
Buy Limit Order @ 1.39364
TP 1 @ 1.39997
TP 2 @ 1.41000
Stop Loss @ 1.39155
Trade Safely 🙂