The buy option recommendation is based on a combination of key technical factors:
Trend Analysis: The daily and 4-hour charts indicate a strong bullish trend, with GBP/USD breaking resistance levels and maintaining upward momentum.
Support Levels: Support at 1.3390-1.3400 is a key zone identified on the 1-hour and 15-minute charts, offering a good entry point for a buy position.
Moving Averages: The price is above key moving averages (20, 50, and 100-period EMAs), further confirming the bullish bias.
Oscillators: The Relative Strength Index (RSI) and MACD indicate continued buying momentum.
Trend Analysis: The daily and 4-hour charts indicate a strong bullish trend, with GBP/USD breaking resistance levels and maintaining upward momentum.
Support Levels: Support at 1.3390-1.3400 is a key zone identified on the 1-hour and 15-minute charts, offering a good entry point for a buy position.
Moving Averages: The price is above key moving averages (20, 50, and 100-period EMAs), further confirming the bullish bias.
Oscillators: The Relative Strength Index (RSI) and MACD indicate continued buying momentum.
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.
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.