This GBP/USD 1-hour chart highlights key support and resistance zones. The price has recently tested the support area (around 1.2930) and is showing signs of a potential bullish reversal. A projected price movement suggests a climb towards two target levels: TP1 at 1.29700 and TP2 at 1.29950. If the price breaks these resistance points, further bullish momentum could be expected. Traders should monitor price action near these levels for confirmation of the breakout.
Key Levels in This GBP/USD Analysis
1. Support Zone: ~1.29250 – 1.29350
Price recently bounced from this level, indicating strong buying interest.
2. Resistance Zone: ~1.30000 – 1.30200
Previous price rejections suggest this is a key selling area.
3. Entry Zone: Around 1.29450 (Current Market Price)
Potential buy setup if bullish confirmation occurs.
4. Take Profit Targets:
TP1: 1.29700
TP2: 1.29950
5. Breakout Confirmation Level: Above 1.30000
A breakout above this level could indicate further bullish momentum.
Traders should monitor these levels closely and adjust risk management accordingly.
NOTE
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Key Levels in This GBP/USD Analysis
1. Support Zone: ~1.29250 – 1.29350
Price recently bounced from this level, indicating strong buying interest.
2. Resistance Zone: ~1.30000 – 1.30200
Previous price rejections suggest this is a key selling area.
3. Entry Zone: Around 1.29450 (Current Market Price)
Potential buy setup if bullish confirmation occurs.
4. Take Profit Targets:
TP1: 1.29700
TP2: 1.29950
5. Breakout Confirmation Level: Above 1.30000
A breakout above this level could indicate further bullish momentum.
Traders should monitor these levels closely and adjust risk management accordingly.
NOTE
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
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.
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.