GBP/USD has broken above the 1.3500 resistance level, confirming bullish momentum. The pair is trading at 1.35388 with a strong daily candle and volume backing the move. This breakout aligns with a bullish flag pattern formed over the past two weeks.
RSI remains below overbought levels, suggesting more upside potential. MACD is also crossing above the signal line, adding confirmation.
Trade Setup:
Entry: 1.3540 (confirmation of breakout)
Take Profit: 1.3650 (previous high from February)
Stop Loss: 1.3475 (below the breakout zone and recent consolidation)
Risk/Reward: Approximately 1:2, aligning with my trading strategy.
RSI remains below overbought levels, suggesting more upside potential. MACD is also crossing above the signal line, adding confirmation.
Trade Setup:
Entry: 1.3540 (confirmation of breakout)
Take Profit: 1.3650 (previous high from February)
Stop Loss: 1.3475 (below the breakout zone and recent consolidation)
Risk/Reward: Approximately 1:2, aligning with my trading strategy.
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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.