British Pound / U.S. Dollar
Hello Dear Traders
Pound Analysis
Based on the bullish analysis of DXY, I present to you the updated analysis for the Pound. The Pound chart has confirmed its bullish daily confirmation, and I expect the major daily ceiling, which is the main price target, to reach 1.34340 in the coming weeks. However, we have a long way to go until the price reaches our target.
Currently, based on the bullish analysis of DXY, I have identified a suitable selling area in the 1-hour timeframe. Additionally, the minor 1-hour chart indicates a bullish trend. The Change of Character (CHoCH) has provided confirmation of a temporary correction in the 1-hour timeframe. Therefore, with this trend change, we can utilize this area of the Secret Order Block (1H) for entering a sell position.
Again, in the selling area, a 5-minute confirmation can help us optimize our entry into the trade.
First Support: 1.24866
1-Hour Liquidity: 123748
Potential Suitable Buying Area: 1.22928, which I will update once the price reaches this level.
Wishing you all success!
Fereydoon Bahrami
A retail trader in the Wall Street Trading Centre (Forex)
Risk Disclosure:
Trading in the Forex market is risky due to high price volatility. This analysis is solely my personal opinion and should not be considered financial advice. Please do your own research. You are responsible for any profits or losses resulting from this analysis.
Pound Analysis
Based on the bullish analysis of DXY, I present to you the updated analysis for the Pound. The Pound chart has confirmed its bullish daily confirmation, and I expect the major daily ceiling, which is the main price target, to reach 1.34340 in the coming weeks. However, we have a long way to go until the price reaches our target.
Currently, based on the bullish analysis of DXY, I have identified a suitable selling area in the 1-hour timeframe. Additionally, the minor 1-hour chart indicates a bullish trend. The Change of Character (CHoCH) has provided confirmation of a temporary correction in the 1-hour timeframe. Therefore, with this trend change, we can utilize this area of the Secret Order Block (1H) for entering a sell position.
Again, in the selling area, a 5-minute confirmation can help us optimize our entry into the trade.
First Support: 1.24866
1-Hour Liquidity: 123748
Potential Suitable Buying Area: 1.22928, which I will update once the price reaches this level.
Wishing you all success!
Fereydoon Bahrami
A retail trader in the Wall Street Trading Centre (Forex)
Risk Disclosure:
Trading in the Forex market is risky due to high price volatility. This analysis is solely my personal opinion and should not be considered financial advice. Please do your own research. You are responsible for any profits or losses resulting from this analysis.
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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.
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.