Breaking News

GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.35392, 1.36113, 1.37000.

Key Support Levels: 1.34518, 1.33932, 1.33500.

Daily Chart:

The price on the higher time frame failed to break the strong daily support around the 1.34518 USD mark and reversed higher leaving a fake breakout behind. We expect the market to move upward toward the next key level 1.35392 USD.

GBP/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair posted a double bottom formation which shows that the buyers managed to reverse the price and move it to the upside. We expect a lower correction to the 0.72262 zone before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 1.34540

TP 1 @ 1.35352

TP 2 @ 1.36113

Stop Loss @ 1.34271

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.

2 comments

  1. Another signal when currency price is way past entry price… what to do?

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!