GBPUSD moving higher towards 1.3000 level
Updated
**Monthly Chart**
Last month closed as a bearish candle after making a new low, just to move back into a consolidation range that was formed at the beginning of this year. This month's candle (which is still active) opened within the range and started moving higher. We will see a clear direction after the close of the monthly candle by the end of this week. However, the short-term bias is still bullish after testing the historical low of 1985 in September 2022.
**Weekly Chart**
last week candle closed higher as a continuation of the bullish move from the previous week. From the weekly chart, the price is heading towards testing the weekly MC around 1.3000 and then 1.3200 level.
**Daily Chart**
GBPUSD needs a short retracement (corrective move) before resuming the bullish trend. More cleared pictures can be seen in lower time frames.
Last month closed as a bearish candle after making a new low, just to move back into a consolidation range that was formed at the beginning of this year. This month's candle (which is still active) opened within the range and started moving higher. We will see a clear direction after the close of the monthly candle by the end of this week. However, the short-term bias is still bullish after testing the historical low of 1985 in September 2022.
**Weekly Chart**
last week candle closed higher as a continuation of the bullish move from the previous week. From the weekly chart, the price is heading towards testing the weekly MC around 1.3000 and then 1.3200 level.
**Daily Chart**
GBPUSD needs a short retracement (corrective move) before resuming the bullish trend. More cleared pictures can be seen in lower time frames.
Note
It took time by moving sideways but eventual destination still higher. Lets see what NFP will brings today but I am still looking at the next target of 1.3000Note
moving as expected. It shows that with only few simple and clear setups along with a calculated risk management setup. You can generate consistent income. Patience is key in this business.Note
14.07.2024 Outlook for this week. GBPUSD has moved sharply to the upside. This week, expect a corrective structure to test 1.2860 level before it bounce to the upside. This will provide us a good buying opportunity around this level. First target at 1.3100 and then 1.3200 levels.
Note
27.07.2024 Market updatesThis week I expect a resumption of the bullish move on GBPUSD towards 1.3000 and to break the previous swing high at 1.30445 level and move higher for about +200 pips.
Trade active
GBPUSD is still moving up. First target is 1.3000Trade closed: target reached
Target reached
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