GBP/USD STRUCTURE ANALYSIS|
The pair has broken out of the range and hit a new horizontal resistance.
Paired with the fact that the Dollar Index hit a support on it's own and I say is not gonna break it easily, a return to the new support is likely.
However, the pair is generally in an uptrend and is now trading in an upward narrowing channel.
Thus, if there is a breakout up, then a long will have high probability.
If the level stands, however, it will take the channel support breakout for the new horizontal support to be reached.
After that, a long will be reasonable.
Several trading opportunities might present itself around this level, one just has to be looking carefully at the price action.
Thank you for reading, like and subscribe, and have a nice day!
✅ FREE Telegram channel: t.me/prosignalsfxx
✅ My Website: prosignalsfx.eu/
✅ For VIP SIGNALS contact: t.me/prosignalsfx_contact
✅ RELIABLE BROKER: prosignalsfx.eu/trustedbroker
✅ My Website: prosignalsfx.eu/
✅ For VIP SIGNALS contact: t.me/prosignalsfx_contact
✅ RELIABLE BROKER: prosignalsfx.eu/trustedbroker
Related publications
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.