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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.30830, 1.31053, 1.32000.

Key Support Levels: 1.30571, 1.30428, 1.30218.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a double bottom formation / Higher Low. This shows that the market is controlled by the buyers and might push it further to the upside.

GBP/USD Medium-Term Trend: Bullish

Key Resistance Levels: 1.30830, 1.31053, 1.32000.

Key Support Levels: 1.30571, 1.30428, 1.30218.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a double bottom formation / Higher Low. This shows that the market is controlled by the buyers and might push it further 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 to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Market Order @ 1.30605

Target Profit 1 @ 1.30830

Target Profit 2 @ 1.31053

Stop Loss @ 1.30381

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. Mondays… am i right? >_>

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