In the hourly chart, GBPUSD is well above the 100Hour EMA which means the uptrend is intact. Right now, I don't want to buy GBPUSD at the current market price because GBPUSD rally looks overextended to me.
However, if price pulls back towards the 100 Hour EMA then, I will be looking for a buy entry.
The area I have highlighted in my chart could be a possible buy entry with 1.30 as the target.
However, if price pulls back towards the 100 Hour EMA then, I will be looking for a buy entry.
The area I have highlighted in my chart could be a possible buy entry with 1.30 as the target.
Note
It reached 1.2994 which is very close to my 1.30 target. Almost 70 pips up from the time I posted this
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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.