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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.3847, 1.3950, 1.4000.

Key Support Levels: 1.3801, 1.3750, 1.3700.

Daily Chart:

The price on the higher time frame found support around the 1.3801 USD mark where the buyers managed to overwhelm the sellers. The market reversed and moved higher and we could see the series of higher lows and highs showing that we are in a clear uprend. So the odds are in our favor.

GBP/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair found support near the area of confluence which is made of a bespoke support and the 50% Fibonacci retracement level. a lower correction could be seen to this area before a new impulsive bullish wave toward the target profits.

Signal Idea:

Buy Limit Order @ 1.38039

TP 1 @ 1.38444

TP 2 @ 1.39500

Stop Loss @ 1.37846

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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