GBPUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE
This is a GBP/USD 1-hour chart published on TradingView. Here’s what it suggests:
1. Uptrend and Pullback: The price was in an upward channel but recently pulled back.
2. Support Zone (Blue Box): The highlighted blue area represents a potential support zone where price may bounce.
3. Resistance Level (1.26274): The red line above acts as resistance, where price may struggle to break.
4. Projected Move (Black & Blue Arrows):
The blue arrow suggests a possible bounce from support, leading to a break of resistance.
The black arrow indicates a bullish breakout continuation if resistance is broken.
This analysis suggests a long trade setup if GBP/USD respects the support and breaks resistance. Do you plan to trade based on this?
1. Uptrend and Pullback: The price was in an upward channel but recently pulled back.
2. Support Zone (Blue Box): The highlighted blue area represents a potential support zone where price may bounce.
3. Resistance Level (1.26274): The red line above acts as resistance, where price may struggle to break.
4. Projected Move (Black & Blue Arrows):
The blue arrow suggests a possible bounce from support, leading to a break of resistance.
The black arrow indicates a bullish breakout continuation if resistance is broken.
This analysis suggests a long trade setup if GBP/USD respects the support and breaks resistance. Do you plan to trade based on this?
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.