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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.3907, 1.4000, 1.4082

Key Support Levels: 1.3809, 1.3672, 1.3575

Daily Chart:

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

4-hour Chart:

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.

Signal Idea:

Buy Limit Order @ 1.3812

TP 1 @ 1.3904

TP 2 @ 1.3995

Stop Loss @ 1.3766

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.

One comment

  1. I recently found out your website and telegram and I’m pretty impressed…I back tested your strategies and signals and liked them very much…for now I will be paper trading for a week and copy each and every one of your trades… I hope u don’t disappoint me XD

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