GBPUSD is Bullish short-term
Updated
GBP/USD Technical Analysis (1-Hour Timeframe) - Current Price: 1.3040
Trend Overview:
GBP/USD is in a short-term uptrend on the 1-hour chart, with the price trading above key moving averages, reflecting bullish momentum.
Key Levels:
Immediate support: 1.3000 (psychological level) and 1.2965 (recent swing low).
Immediate resistance: 1.3075 (recent high) and 1.3120 (next key resistance).
Price Action:
Price action shows higher highs and higher lows, indicating continuation of the upward trend.
A potential bull flag pattern is forming, signaling a possible breakout above 1.3075.
Potential Scenarios:
A break above 1.3075 could see the pair advance toward 1.3120 or even higher.
On the downside, if price falls below 1.3000, it may pull back further to 1.2965.
Conclusion:
The short-term bias is bullish while above 1.3000, with upside potential toward 1.3120 if 1.3075 resistance is breached.
Trend Overview:
GBP/USD is in a short-term uptrend on the 1-hour chart, with the price trading above key moving averages, reflecting bullish momentum.
Key Levels:
Immediate support: 1.3000 (psychological level) and 1.2965 (recent swing low).
Immediate resistance: 1.3075 (recent high) and 1.3120 (next key resistance).
Price Action:
Price action shows higher highs and higher lows, indicating continuation of the upward trend.
A potential bull flag pattern is forming, signaling a possible breakout above 1.3075.
Potential Scenarios:
A break above 1.3075 could see the pair advance toward 1.3120 or even higher.
On the downside, if price falls below 1.3000, it may pull back further to 1.2965.
Conclusion:
The short-term bias is bullish while above 1.3000, with upside potential toward 1.3120 if 1.3075 resistance is breached.
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