GBPUSD: Potential Buying Opportunity Explained 🇬🇧🇺🇸
Updated
GBPUSD is very bullish since the 15th of March.
The pair is steadily growing respecting a rising trendline.
Reaching 1.33 level the price retraced to a peculiar demand zone:
we see a perfect match between a horizontal structure and a trend line.
Within that zone, the price formed a double bottom formation.
To buy the pair with a confirmation, watch 1.3206 - 1.3216 neckline.
We need an hourly candle close above that to buy the market.
Initial target will be 1.3285
Safe stop below the trend line.
If the price breaks the trend line to the downside,
the setup will be invalid.
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