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GBP/USD Potential Upward Movement

GBP/USD Long-Term Trend: Bullish

Key Resistance Levels: 1.4005, 1.4033, 1.4073

Key Support Levels: 1.3955, 1.3924, 1.3859          

1-Hour Chart:

The price on the higher time frame is posting higher highs and lows which shows that we are in a clear uptrend. The price posted a correction count around the 1.3955 USD mark where we expect after it an impulsive wave in the same direction of the main trend.

GBP/USD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame the pair found support around the 61.80% Fibonacci retracement level which coincides with a strong support. This could lead to an end of the correction and then a huge move to the upside toward our target profit.

Signal Idea:

Buy Market Order @ 1.3966

TP 1 @ 1.3999

TP 2 @ 1.4033

Stop Loss @ 1.3950

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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