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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.4221, 1.4244, 1.4300

Key Support Levels: 1.4146, 1.4049, 1.4002

Daily Chart:

The price on the higher time frame is in a clear upward movement where it is trading inside a bullish wedge formation. The pair is currently traded above the daily support (1.4146 USD) where we expect a further movement to the upside in the coming hours.

GBP/USD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame, the price bounced to the upside after posting a double bottom formation around the 1.4146 USD strong support. A correction is about to be posted and then we might see a rally toward our target profit.

Signal Idea:

Buy Limit Order @ 1.4149

TP 1 @ 1.4211

TP 2 @ 1.4221

Stop Loss @ 1.4130

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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