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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.2329, 1.2359, 1.2378

Key Support Levels: 1.2278, 1.2265, 1.2222

4-Hour Chart:

The price on the higher time frame has been in an uptrend for some time and recently the pair did a pullback to find support at the 1.2189 level. It bounced back and has broken a level of 1.2283 which suggests bullish bias.

GBP/USD Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.2222 and 1.2265 and sustained above that. As of now the pair has broken a minor level of 1.2278 and retested before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.22958

TP @ 1.2318

Stop Loss @ 1.22737

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.

2 comments

  1. We want this type analysis more

  2. The trade went successfully 🔥👍🏾

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