After breaking above the falling trendline from the end of January, GBP/USD has entered a consolidation phase between 1.23 and 1.25.
Recently, the pair tested the support zone once more and began to rebound.
In my opinion, the upward movement will continue, and we could see a test of the next resistance above 1.26.
In conclusion, I am looking to buy dips below 1.24, with invalidation occurring on a daily close below 1.23.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Recently, the pair tested the support zone once more and began to rebound.
In my opinion, the upward movement will continue, and we could see a test of the next resistance above 1.26.
In conclusion, I am looking to buy dips below 1.24, with invalidation occurring on a daily close below 1.23.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Trade active
GBPUSD reversed exactly from my buy zone and at the time of the update is running more than 100 pips above that zoneTrade closed: target reached
GBPUSD reached 1.26 target on Friday
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.