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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.36054, 1.36426, 1.36818.

Key Support Levels: 1.35524, 1.35171, 1.34950.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside. The market as well managed to break a strong resistance line around the 1.35534 USD mark which could lead to a further movement to the upside.

GBP/USD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line as well where also we have seen a Wyckoff accumulation phase where the buyers might took control of the price.. A lower correction could be seen before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 1.35577

TP 1 @ 1.36054

TP 2 @ 1.36426

Stop Loss @ 1.35338

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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