GBPUSD Daily Timeframe Analysis – Bullish Continuation Setup

Technical Analysis:

On the daily timeframe, GBPUSD maintains a bullish bias in the long term.

During the previous week, price action formed an impulsive bullish leg, confirming continued demand and momentum to the upside.

Currently, I expect a retracement to a key support zone (previous resistance), which is marked on the chart (red rectangle)

This zone could act as a potential entry point for buyers targeting higher levels.

A short-term retracement is expected toward the highlighted zone (red rectangle).

---

📌 Trade Plan:

Entry Zone: 1.35900 – 1.36100

Take Profit (TP): 1.37500

Stop Loss (SL): 1.35250



---

🔎 Outlook Summary:

This setup aligns with the broader trend, and I’ll be watching price reaction at the retracement zone closely. A bullish confirmation (like a bullish engulfing candle or pin bar) could validate the entry.

📌 Conclusion
I’ll be watching the retracement closely for confirmation before entering. A bullish candlestick setup in this area will strengthen the bullish continuation outlook.