GBPUSD 1H BUY Opportunity
Updated
GU in the daily and 4H chart is shown to be in an uptrend. GU was in a short term downtrend, but has bounced at a Fibonacci retracement level. After applying the Fibonaci retracement tool on the 4H chart from the swing low (1.21660) to the swing high (1.26451), it shows a bounce from the 0.768 Fib level at the 1.26680 pirce level in confluence with the daily support zone at the 1.23500 price level. As of now, I am expecting GU to continue it's overall bullish momentum respecting the uptrend. I will be trading the breaks and retests of resistance levels since it is in an uptrend. Good luck!
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