GBP/USD Breaks Downtrend – Bullish Reversal in Play?
GBP/USD Daily Chart Analysis – February 11, 2025
Key Observations:
📌 Support Zone: The price recently bounced from a strong demand zone around 1.2050 - 1.2200, indicating a potential bullish reversal.
📌 Break of Downtrend Line: The market has broken above the descending trendline, suggesting a shift in momentum.
📌 200 EMA Resistance: The 200-day Exponential Moving Average (EMA) at 1.2691 is a crucial resistance level to watch. A break above it could confirm a stronger bullish trend.
📌 Bullish Price Action: The price has formed a higher low and is now pushing higher, showing early signs of an uptrend.
Potential Scenarios:
✅ Bullish Case: If GBP/USD holds above the breakout level and breaks past 1.2690, we could see a move toward 1.2800 - 1.3000.
❌ Bearish Case: If the price fails to hold above 1.2300, a retest of the demand zone near 1.2100 is possible.
Conclusion:
This setup favors bullish momentum 📈, but confirmation above the 200 EMA is necessary for further upside. Traders should monitor price action and key resistance levels before committing to long positions.
Key Observations:
📌 Support Zone: The price recently bounced from a strong demand zone around 1.2050 - 1.2200, indicating a potential bullish reversal.
📌 Break of Downtrend Line: The market has broken above the descending trendline, suggesting a shift in momentum.
📌 200 EMA Resistance: The 200-day Exponential Moving Average (EMA) at 1.2691 is a crucial resistance level to watch. A break above it could confirm a stronger bullish trend.
📌 Bullish Price Action: The price has formed a higher low and is now pushing higher, showing early signs of an uptrend.
Potential Scenarios:
✅ Bullish Case: If GBP/USD holds above the breakout level and breaks past 1.2690, we could see a move toward 1.2800 - 1.3000.
❌ Bearish Case: If the price fails to hold above 1.2300, a retest of the demand zone near 1.2100 is possible.
Conclusion:
This setup favors bullish momentum 📈, but confirmation above the 200 EMA is necessary for further upside. Traders should monitor price action and key resistance levels before committing to long positions.
Trade active
GBP/USD Bullish Move in Progress – Target in Sight! 🚀📈
The analysis is unfolding as expected! GBP/USD is gaining momentum after breaking the downtrend and holding above key support. The bullish push is still in progress, working towards the 1.2800 - 1.3000 target zone.
🔹 Trendline Break Confirmed: Buyers are stepping in, showing strong momentum.
🔹 Approaching Key Resistance: The 200 EMA (1.2690) remains a crucial level to clear.
🔹 Bullish Structure Intact: Higher lows and increasing demand suggest continued upside potential.
📊 Next Steps: A clean breakout above 1.2690 could fuel the rally further. Watching for strong closes and volume confirmation!
Let’s keep riding this move! 🚀🔥 Will update as it develops.
Note
GBP/USD Pushing Higher – Strong Momentum Towards Target! 🚀📈
GBP/USD is moving as expected and is now approaching 1.26319, showing strong bullish momentum. Buyers are in control, and the price remains in a solid position to continue its upward move.
🔹 Current Price Action: Holding above key support, confirming strength.
🔹 Next Resistance: 1.2690 (200 EMA) – A breakout here could accelerate gains towards 1.2800.
🔹 Bullish Structure Holding: Higher highs and strong demand support further upside.
📊 What’s Next? If bulls maintain control, we could see a test of the 200 EMA soon. Let’s watch how the price reacts—momentum is on our side! 🚀🔥
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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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.