GBP/USD - Bullish
Updated
Monthly
This pair has gained significant strength over the last few months - we saw a strong bullish candle last month which closed above 1.4000 and tested 1.1450. This month we seen a retest of this area and potentially will close again above this zone. EMAs have crossed after a long time.
Weekly
EMAs are upward facing and holding price nicely as dynamic areas of support. We've seen price react around 1.4000 but I believe we should be heading higher to the next zone. A spike on last week's candle confirmed a rejection.
Daily
We've been seeing higher highs on the daily and last week a 3rd bounce on our daily TL occurred. EMAs are also upward facing and if today closes bullish, above 1.4000 we should continue to see upward momentum.
H4
As price has been reacting around the 1.4000 area, the H4 TF has seen price pull back to our preferring fib region. We have also seen a 3rd bounce on our TL with a hammer candlestick formation right in the fib zone. Higher lows have been forming and this morning we have broken 1.4000 again with a marubozo. Our CTL has also been broken and we have an EMA crossover aligning us with the daily, weekly and monthly charts.
This pair has gained significant strength over the last few months - we saw a strong bullish candle last month which closed above 1.4000 and tested 1.1450. This month we seen a retest of this area and potentially will close again above this zone. EMAs have crossed after a long time.
Weekly
EMAs are upward facing and holding price nicely as dynamic areas of support. We've seen price react around 1.4000 but I believe we should be heading higher to the next zone. A spike on last week's candle confirmed a rejection.
Daily
We've been seeing higher highs on the daily and last week a 3rd bounce on our daily TL occurred. EMAs are also upward facing and if today closes bullish, above 1.4000 we should continue to see upward momentum.
H4
As price has been reacting around the 1.4000 area, the H4 TF has seen price pull back to our preferring fib region. We have also seen a 3rd bounce on our TL with a hammer candlestick formation right in the fib zone. Higher lows have been forming and this morning we have broken 1.4000 again with a marubozo. Our CTL has also been broken and we have an EMA crossover aligning us with the daily, weekly and monthly charts.
Trade closed: stop reached
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