GBPUSD Long term analysis

23 Ağu 2023

As u can see GBPUSD already break channel up patten,
and perform consolidation with a new head and shoulders bearish pattern.

Even if this channel up already break, but this pair cannot break 0.618 support level at 1.26266

bearish will happen only if support at 1.26266 break down, with target at 1.20972
but if this support cannot break, we have bullish pattern with fibonacci target at 1.34599

suggestion :
1.26266 are our key level, if it break down, we will follow bearish pattern
but right now, bullish still strong even channel up already breakdown (this conclussion based on USD index analysis, i will update my DXY analysis tomorow).

Open Order bullish :
Long position right now, at around 1.26266
Stoploss below 1.26266
Take profit at fibonacci 1.618 at 1.34599

Open order bearish :
Only if 1.26266 break down with 1 candle full at 4 hour time frames
target profit at : 1.20972
note : I will update this analysis if keylevel at 1.26266 break down

Happy trading, may profit be with you

4 Eki 2023

İşlem kapandı: hedefe ulaştı

bearish target reach, with 529 pips profit. congrats