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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.38919, 1.39490, 1.40006.

Key Support Levels: 1.38005, 1.37530, 1.36867.

Daily Chart:

The price on the higher time frame found buyers around the 61.80 % Fibonacci retracement level where it posted a higher low which shows that the buyers are in control of the market. The pair bounced on the daily support (1.38005 USD) and it might continue its upward movement in the coming hours.

GBP/USD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the pair posted a correction count to the 50% Fibonacci retracement level and moved higher. A lower correction could be seen to the highlighted zone before a new impulsive bullish wave toward the target profit.

Signal Idea:

Buy Limit Order @ 1.38368

TP 1 @ 1.38898

TP 2 @ 1.39490

Stop Loss @ 1.38132

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.

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