GBP/USD H1 - Long setups
Price is trying to start an uptrend.
On W1/D1 charts, the bullish crab pattern is complete and has presented a “pin bar” reversal bar, but no bullish divergence yet.
On H4 chart, the price is trapped in a range, pressuring top channel resistance, and is more kind to decline to near support 1.4200 and even below to 1.4100 (blue lines - SHS pattern projection). Bear and bull divergences are presents.
Following the higher TF’s, on H1 chart, the range of the price is more clear. A bullish divergence is present and could retest near resistance at 1.4362. Wait for a reversal bar pattern to take a trade, but keep in mind the analysis on H4 chart: the price could go below to 1.4100 support (there could be another chance to enter long).
On W1/D1 charts, the bullish crab pattern is complete and has presented a “pin bar” reversal bar, but no bullish divergence yet.
On H4 chart, the price is trapped in a range, pressuring top channel resistance, and is more kind to decline to near support 1.4200 and even below to 1.4100 (blue lines - SHS pattern projection). Bear and bull divergences are presents.
Following the higher TF’s, on H1 chart, the range of the price is more clear. A bullish divergence is present and could retest near resistance at 1.4362. Wait for a reversal bar pattern to take a trade, but keep in mind the analysis on H4 chart: the price could go below to 1.4100 support (there could be another chance to enter long).
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