GBP/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.35697, 1.37264, 1.38078.
Key Support Levels: 1.34280, 1.33964, 1.33587.
The price on the higher time frame posted an engulfing bullish pattern showing that the bulls took control of the market and managed to break the bearish channel to the upside. We expect that this would lead for a reversal and a move to the upside.
GBP/USD Medium-Term Trend: Bullish
On the lower time frame, the price posted a Wyckoff accumulation phase where the buyers managed to move to the upside. We can see higher lows showing that we are in the beginning of a new trend to the upside.
Buy Limit Order @ 1.34937
TP 1 @ 1.35782
TP 2 @ 1.37264
Stop Loss @ 1.34769
Trade Safely 🙂