GBPUSD holds 1.23 and prepares to jump?
Hello All!
The GBP/USD pair is clinging to 1.23 like a cat to a warm laptop. If nothing shakes it loose, there’s a high chance it will crawl up to the 1.239–1.244 area.
But don’t get too excited—this is where the pair will face a veteran resistance level, the 200-period moving average on the 4-hour chart, and the upper boundary of the H4 downtrend. In other words, a whole party of obstacles is waiting to greet it.
So, it might be a good idea to lock in profits at this point.
However, if the pair suddenly decides to flex its muscles and break out of the local parallel channel, consolidating above the 4-hour moving average, it could make a daring leap toward the next resistance level at 1.26.
And yes, this might happen without much of a correction—like skipping leg day at the gym.
Stop-loss? Safely below the 1.23 level—because no one likes unpleasant surprises!
The GBP/USD pair is clinging to 1.23 like a cat to a warm laptop. If nothing shakes it loose, there’s a high chance it will crawl up to the 1.239–1.244 area.
But don’t get too excited—this is where the pair will face a veteran resistance level, the 200-period moving average on the 4-hour chart, and the upper boundary of the H4 downtrend. In other words, a whole party of obstacles is waiting to greet it.
So, it might be a good idea to lock in profits at this point.
However, if the pair suddenly decides to flex its muscles and break out of the local parallel channel, consolidating above the 4-hour moving average, it could make a daring leap toward the next resistance level at 1.26.
And yes, this might happen without much of a correction—like skipping leg day at the gym.
Stop-loss? Safely below the 1.23 level—because no one likes unpleasant surprises!
Trade closed: target reached
TP-1 zone reached Note
TP-2 zone reached
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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.