GBPUSD 1HOUR CHART TECHNICAL ANALYSIS’ NEXT MOVE POSSIBLE

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Key Chart Components Explained

1. Bearish Order Block (OB)
• Marked twice on the chart: one at the top near 1.31474 and another mid-trend.
• These areas represent zones where institutional selling might have taken place.
• Price dropped sharply from the first OB, confirming its effectiveness as resistance.

2. Blue Arrows & Trendlines
• Indicate past trend movements:
• First blue arrow shows a strong bullish move breaking resistance.
• Second and third blue arrows represent a steep bearish move indicating sell-off after the OB rejection.
• Downward black trendline marks the bearish move which is recently broken to the upside, signaling a potential reversal or retracement.

3. Current Price Action (as of April 8)
• Price is around 1.27976 and has broken above the descending trendline.
• There’s a bullish arrow suggesting potential for upward movement, possibly targeting:
• 1.29023
• 1.30049
• 1.30501

4. Support and Resistance Levels
• Clearly marked horizontal lines:
• Support: around 1.27057 (bottom red zone)
• Resistance: 1.29023, 1.30049, 1.30501, 1.31474
• These act as potential price targets or obstacles depending on direction.

5. Volume/Order Flow Zone
• The blue shaded area (left part) likely shows a liquidity or accumulation zone before the breakout.

6. Economic Calendar Icons
• Marked under April 10–13, indicating high-impact news related to the USD and GBP. This is important as it may cause high volatility.

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