**Monthly chart**
The GBPUSD long-term directional bias is been bearish since 2008. However, in Sept 2022 the pair touched and bounced from an all-time historical low of Feb 1985. Since then the short-term directional bias has been bullish. In July 2023, the price touched a high above 1.3000 level and was sensitive.
Like EURUSD, the GBPUSD monthly candle (which is still active) is forming an engulfing candle after last month's Doji candle. Which indicates the short-term bias is bullish. While long-term bias is still long.
**Weekly Chart**
Last two weeks candles closed higher suggesting the continuation of directional bias to be long in the coming weeks. My next target is at 1.28000 level and then 1.30000 near the manipulation candle (or OB) on the weekly chart.
**Daily Chart**
There were plenty of buying opportunities that appeared on a lower time frame in the last two weeks. For this week, I will be looking to buy on retracement (or pullback) with good risk management parameters.
The GBPUSD long-term directional bias is been bearish since 2008. However, in Sept 2022 the pair touched and bounced from an all-time historical low of Feb 1985. Since then the short-term directional bias has been bullish. In July 2023, the price touched a high above 1.3000 level and was sensitive.
Like EURUSD, the GBPUSD monthly candle (which is still active) is forming an engulfing candle after last month's Doji candle. Which indicates the short-term bias is bullish. While long-term bias is still long.
**Weekly Chart**
Last two weeks candles closed higher suggesting the continuation of directional bias to be long in the coming weeks. My next target is at 1.28000 level and then 1.30000 near the manipulation candle (or OB) on the weekly chart.
**Daily Chart**
There were plenty of buying opportunities that appeared on a lower time frame in the last two weeks. For this week, I will be looking to buy on retracement (or pullback) with good risk management parameters.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
t.me/PropsignalAE
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.