🔍 GBP/USD 4H Chart Analysis (May 5, 2025)
🧠 Technical Overview:
Market Structure:
Price is ranging between 1.32500 (support) and 1.34584 (resistance).
Currently sitting near mid-range, around 1.33186, attempting to break above a minor structure.
Trade Setup Observed:
Long Position marked:
Entry: ~1.33182
Stop-Loss: 1.32324
Take-Profit: 1.34489 / 1.34584
Risk-to-Reward: ~1:2 — favorable for intraday/swing trading.
Contextual Clues:
The prior consolidation and failed breakdowns near 1.32500 signal strong demand at that level.
Price is creating higher lows suggesting bullish intent.
Current bullish candle is breaking a short-term resistance — a potential trigger candle.
🔍 Bias: Bullish (Short-Term)
Why?
Strong reaction off key support (1.32500).
Bullish engulfing breakout attempt.
Consolidation breakout setups in play.
🧨 Key Levels to Watch:
Support:
1.32500
1.32324 (SL region)
Resistance:
1.34489 – Intraday TP zone
1.34584 – Strong daily resistance
📈 Trade Idea Summary:
Buy GBP/USD if the current bullish momentum sustains above 1.3318.
Confirmation above 1.3340 may attract more buyers.
Protect downside below 1.3232.
🧠 Technical Overview:
Market Structure:
Price is ranging between 1.32500 (support) and 1.34584 (resistance).
Currently sitting near mid-range, around 1.33186, attempting to break above a minor structure.
Trade Setup Observed:
Long Position marked:
Entry: ~1.33182
Stop-Loss: 1.32324
Take-Profit: 1.34489 / 1.34584
Risk-to-Reward: ~1:2 — favorable for intraday/swing trading.
Contextual Clues:
The prior consolidation and failed breakdowns near 1.32500 signal strong demand at that level.
Price is creating higher lows suggesting bullish intent.
Current bullish candle is breaking a short-term resistance — a potential trigger candle.
🔍 Bias: Bullish (Short-Term)
Why?
Strong reaction off key support (1.32500).
Bullish engulfing breakout attempt.
Consolidation breakout setups in play.
🧨 Key Levels to Watch:
Support:
1.32500
1.32324 (SL region)
Resistance:
1.34489 – Intraday TP zone
1.34584 – Strong daily resistance
📈 Trade Idea Summary:
Buy GBP/USD if the current bullish momentum sustains above 1.3318.
Confirmation above 1.3340 may attract more buyers.
Protect downside below 1.3232.
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.