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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.4002, 1.4180, 1.4243

Key Support Levels: 1.3841, 1.3777, 1.3672

Daily Chart:

The price on the higher time frame is trending to the upside, where the pair posted a correction count to the support level around the 1.3841 USD mark. A bounce and a move upward occurred in the same direction of the main trend,

GBP/USD Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the pair is trading inside an expanding wedge pattern where we expect a lower correction to the area of confluence. The zone is made by a strong support and the lower end of the wedge formation. This move could lead to a move upward toward our designated target profit.

Signal Idea:

Buy Limit Order @ 1.3908

TP 1 @ 1.3994

TP 2 @ 1.4180

Stop Loss @ 1.3880

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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