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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2259, 1.2279, 1.2329

Key Support Levels: 1.2166, 1.2095, 1.2024

Daily Chart:

The price on the higher time frame has been in an uptrend for some time and recently did a pullback to test the support level of 1.8899 and bounced back. The pair has broken a minor level of 1.2137 which suggests trend continuation.

GBP/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.2024 and 1.2095 and sustained above that. The pair has now broken and retested a minor level of 1.2166 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.2207

TP @ 1.2254

Stop Loss @ 1.2160

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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