GBP/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.38875, 1.39856, 1.39900
Key Support Levels: 1.38008, 1.37422, 1.37400
The price on the higher time frame succeeded to break the wedge formation to the upside after finding support around the 1.36663 USD level. In addition, the market seems to form a bullish head and shoulders where it posted a bullish engulfing pattern near a strong support.
GBP/USD Medium-Term Trend: Bullish
On the lower time frame, the price posted a pullback correction to the 1.38008 USD level and reversed higher with a series of a bullish candlesticks. A lower could be seen to the highlighted zone before a new impulsive wave to the upside.
Buy Limit Order @ 1.38455
TP 1 @ 1.38863
TP 2 @ 1.39856
Stop Loss @ 1.38296
Trade Safely 🙂