GbpUsd- Strongly bullish on medium term
As you know from my previous 
DXY analyses, I anticipate a correction in the index, which should lead to a rise in major USD pairs.
Among all the USD pairs I've recently covered,
GBPUSD appears to be the most bullish.
Looking at the posted chart, after forming a bullish Pin Bar at its recent low in mid-January, GBP/USD began to reverse and climbed to 1.25, which was the initial target at that time.
A correction followed this first leg up. What stands out in this case is the strong bullish reversal candle that formed after Monday’s Asian open gap. Not only did it fill the gap (like in EUR/USD's case), but the pair also returned to the 1.25 resistance level.
This structure signals strong bullish momentum, and I expect GBP/USD to continue its ascent toward the next key resistance zone at 1.28.
In conclusion, my strategy remains to buy the dips.
Depending on the entry point, this setup offers a potential risk-to-reward ratio of over 1:3.
DXY analyses, I anticipate a correction in the index, which should lead to a rise in major USD pairs.Among all the USD pairs I've recently covered,
GBPUSD appears to be the most bullish.Looking at the posted chart, after forming a bullish Pin Bar at its recent low in mid-January, GBP/USD began to reverse and climbed to 1.25, which was the initial target at that time.
A correction followed this first leg up. What stands out in this case is the strong bullish reversal candle that formed after Monday’s Asian open gap. Not only did it fill the gap (like in EUR/USD's case), but the pair also returned to the 1.25 resistance level.
This structure signals strong bullish momentum, and I expect GBP/USD to continue its ascent toward the next key resistance zone at 1.28.
In conclusion, my strategy remains to buy the dips.
Depending on the entry point, this setup offers a potential risk-to-reward ratio of over 1:3.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.