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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.31372, 1.31731, 1.32000.

Key Support Levels: 1.31027, 1.30778, 1.30546.

1-Hr Time Frame:

The price on the higher time frame failed to continue its move downward and it retraced with a lower higher signaling that we are in a new trend to the upside leaving a fake out behind. This could lead to a further movement to the upside.

GBP/USD Medium-Term Trend: Bullish

10-Mins Time Frame:

On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction could be posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 1.31061

Target Profit 1 @ 1.31372

Target Profit 2 @ 1.31731

Stop Loss @ 1.30752

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.

2 comments

  1. Don’t think the forex stream is working as need.. only does one trade a day

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