This is a 4-hour chart of the British Pound vs US Dollar (GBP/USD) from FXCM, showing a strong bullish market structure within a rising parallel channel.
🔍 Key Technical Insights:
Uptrend Channel: Price has been consistently making higher highs and higher lows within a well-defined ascending channel.
Support Zones: Three horizontal levels are marked at 1.348, 1.333, and 1.326 — likely acting as short-term demand zones or reaction points.
Projection Path (Red Line): A pullback into the lower part of the channel (likely near 1.333–1.326 zone) is anticipated, followed by a bullish continuation toward the upper channel resistance.
🧭 Market Outlook:
Bias: Bullish while above channel support.
Buy Area: Ideal long setup may develop around the 1.333–1.326 support region.
Target Zone: Potential continuation toward 1.410+ if the structure holds.
This chart favors trend continuation after a correction, aligning with smart money accumulation and institutional flow behavior within a bullish channel.
🔍 Key Technical Insights:
Uptrend Channel: Price has been consistently making higher highs and higher lows within a well-defined ascending channel.
Support Zones: Three horizontal levels are marked at 1.348, 1.333, and 1.326 — likely acting as short-term demand zones or reaction points.
Projection Path (Red Line): A pullback into the lower part of the channel (likely near 1.333–1.326 zone) is anticipated, followed by a bullish continuation toward the upper channel resistance.
🧭 Market Outlook:
Bias: Bullish while above channel support.
Buy Area: Ideal long setup may develop around the 1.333–1.326 support region.
Target Zone: Potential continuation toward 1.410+ if the structure holds.
This chart favors trend continuation after a correction, aligning with smart money accumulation and institutional flow behavior within a bullish channel.
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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.
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.