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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.3997, 1.4143, 1.5000

Key Support Levels: 1.3907, 1.3809, 1.3675

Daily Chart:

The price on the daily time frame is trending to the upside after forming a double bottom pattern around the 1.3700 USD mark. A slight correction has been posted before most probably moving upward again.

GBP/USD Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is bouncing inside a bullish flag pattern where we expect a breakout to the upside. After this move, we could see a small retracement toward the 1.3970 USD level, then a move upward in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 1.3906

TP 1 @ 1.3994

TP 2 @ 1.4143

Stop Loss @ 1.3884

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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