GBP/USD Bullish Analysis
Good morning traders, today we will analyze GBP/USD as it is in a clear uptrend but at the same time facing a critical price zone.
🔸As we see in the daily chart published in the idea, the price generated a fakeout of the bullish channel and then went back inside.
🔸Right now, it is very close to the extreme of the previous high, which we can see on the 4H chart below.
🔸At the same time, in this chart, we see an excellent rounded bottom movement, of which we did an in-depth explanation a while ago (we left the post in related ideas).
🔸Now that we saw where the price is, it is necessary to clarify that we have to see a break of the resistance zone before proposing a continuation towards the next target zone of the movement. It is found on the Weekly chart, in a strong supply zone.
🔸As we see in the daily chart published in the idea, the price generated a fakeout of the bullish channel and then went back inside.
🔸Right now, it is very close to the extreme of the previous high, which we can see on the 4H chart below.
🔸At the same time, in this chart, we see an excellent rounded bottom movement, of which we did an in-depth explanation a while ago (we left the post in related ideas).
🔸Now that we saw where the price is, it is necessary to clarify that we have to see a break of the resistance zone before proposing a continuation towards the next target zone of the movement. It is found on the Weekly chart, in a strong supply zone.
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