GBP/USD Trade
Entry: 1.35229
Take Profit (TP): 1.35545
Stop Loss (SL): 1.35144
Risk-Reward Ratio: 1:3
Technical Analysis
Price Action:
The GBP/USD pair is currently trading within a tight range between 1.35160 (support) and 1.35582 (resistance) on the 15-minute timeframe. Price has shown multiple touches on both ends of this range, indicating a consolidation phase where neither buyers nor sellers have taken control.
ADX Indicator:
The Average Directional Index (ADX) is hovering around 10, which signals very weak trend strength and confirms the current consolidation. This means the market lacks clear momentum to break out decisively in either direction, increasing the probability of price continuing to oscillate within this range in the short term.
Oscillators & Momentum:
With weak ADX and price stuck within the range, momentum indicators suggest limited directional bias. This setup is ideal for a mean reversion or range trading strategy, where the price is expected to bounce between support and resistance.
Entry: 1.35229
Take Profit (TP): 1.35545
Stop Loss (SL): 1.35144
Risk-Reward Ratio: 1:3
Technical Analysis
Price Action:
The GBP/USD pair is currently trading within a tight range between 1.35160 (support) and 1.35582 (resistance) on the 15-minute timeframe. Price has shown multiple touches on both ends of this range, indicating a consolidation phase where neither buyers nor sellers have taken control.
ADX Indicator:
The Average Directional Index (ADX) is hovering around 10, which signals very weak trend strength and confirms the current consolidation. This means the market lacks clear momentum to break out decisively in either direction, increasing the probability of price continuing to oscillate within this range in the short term.
Oscillators & Momentum:
With weak ADX and price stuck within the range, momentum indicators suggest limited directional bias. This setup is ideal for a mean reversion or range trading strategy, where the price is expected to bounce between support and resistance.
GODO Capital Markets
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.
GODO Capital Markets
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.