GBP/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.3907, 1.4000, 1.4082
Key Support Levels: 1.3809, 1.3672, 1.3575
The price on the higher time frame is trading inside a bullish flag formation, where the price retraced to the 78.60% Fibonacci retracement level. Around this area the price found buyers and pushed the pair to the upside.
GBP/USD Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside a bullish channel formation where we will expect a lower correction toward the area of confluence. This zone is made of the lower end of the channel, support and the 78.60% Fibonacci retracement level. After this move, an upward movement might be seen to the 1.3904 USD mark.
Buy Limit Order @ 1.3812
TP 1 @ 1.3904
TP 2 @ 1.3995
Stop Loss @ 1.3766
Trade Safely 🙂