GBPUSD- Bulls Control Started.
Updated
Bears struggled to maintain the down channel but had difficulty facing weekly demand levels below 1.2296
This strengthens my outlook on the bullish weekly trend.
Currently, the cable is trading near old supply levels "1.2419 / 1.2464" that supported the pair during the Thursday and Friday sessions.
Since weekly bulls are beginning to control, it is expected that supply levels will not hold up on the 4H frame.
The bullish trend confirmation on the daily comes after crossing the 1.25416 level
Possible goals:
1.25416
Exceeding 1.25886 reinforces the bulls desire to target 1.26825 then to the last one 1.28192
This strengthens my outlook on the bullish weekly trend.
Currently, the cable is trading near old supply levels "1.2419 / 1.2464" that supported the pair during the Thursday and Friday sessions.
Since weekly bulls are beginning to control, it is expected that supply levels will not hold up on the 4H frame.
The bullish trend confirmation on the daily comes after crossing the 1.25416 level
Possible goals:
1.25416
Exceeding 1.25886 reinforces the bulls desire to target 1.26825 then to the last one 1.28192
Note
The vision is now clearer. The pair targets 1.26825 levels But it will not last much. It is expected to resume to basic supply levels above 1.28192 Here purchases will become more dangerous and better waiting for any sign to break the uptrend on the hourly or 15 minute time frame.I hope that the technical outlook is useful to you, do not forget to like and follow the latest Forex market analyzes.
#GBPUSD #SUPPLYANDDEMAND
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