Pair: GBP/USD
Bias: 🔼 Bullish
Entry Level: Current market price (see chart)
Stop Loss: Below recent swing low (see chart for exact level)
Target: Risk-reward of 1:2 or higher, based on structure
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GBP/USD is showing strong bullish momentum, currently bouncing off the 200-period moving average on the 4H/1H timeframe. This level has acted as dynamic resistance and now appears to be providing support for the next leg up.
In confluence with this, price action is also approaching the 200-period moving average, which I'm using as both a resistance confirmation and an ideal entry zone.
This setup suggests a potential continuation of the prevailing uptrend, supported by bullish market structure and moving average dynamics.
📊 Trade Plan:
Entry: At current price or on a slight pullback to the 200 MA
Stop Loss: Just below the previous swing low to protect against a deeper correction
Take Profit: Using a risk-reward ratio of 1:2 or higher, targeting previous highs or fib extensions
📌 Notes:
Always manage your risk per your trading rules
Confirm with your own strategy or indicators before entering
Watch for key news events (e.g., BOE or Fed announcements)
Bias: 🔼 Bullish
Entry Level: Current market price (see chart)
Stop Loss: Below recent swing low (see chart for exact level)
Target: Risk-reward of 1:2 or higher, based on structure
---
GBP/USD is showing strong bullish momentum, currently bouncing off the 200-period moving average on the 4H/1H timeframe. This level has acted as dynamic resistance and now appears to be providing support for the next leg up.
In confluence with this, price action is also approaching the 200-period moving average, which I'm using as both a resistance confirmation and an ideal entry zone.
This setup suggests a potential continuation of the prevailing uptrend, supported by bullish market structure and moving average dynamics.
📊 Trade Plan:
Entry: At current price or on a slight pullback to the 200 MA
Stop Loss: Just below the previous swing low to protect against a deeper correction
Take Profit: Using a risk-reward ratio of 1:2 or higher, targeting previous highs or fib extensions
📌 Notes:
Always manage your risk per your trading rules
Confirm with your own strategy or indicators before entering
Watch for key news events (e.g., BOE or Fed announcements)
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.