Long

Lingrid | GBPUSD at the KEY Support LEVEL

Updated

has made a new lows, and currently it is moving sideways within a defined box range. The price has reached a support level where we previously saw an impulsive bullish move. This support area coincides with the previous month's low, making it a significant level to watch. Additionally, there is a bullish divergence formed at this support level, which typically indicates a potential reversal or at least a temporary bounce. I expect that if the market makes a fake break below this support level, it could signal rejection, leading to a potential move back up towards resistance. Observing how the price behaves around the support level will be key in determining whether a bullish reversal is on the horizon. My goal is the support level at 1.24500

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Note

*Resistance level at 1.27750

Trade closed: target reached

TP hit

Lingrid

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