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).
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📌 Trade Plan:
Entry Zone: 1.35900 – 1.36100
Take Profit (TP): 1.37500
Stop Loss (SL): 1.35250
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🔎 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.
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.
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.