GBP USD Trade Setup Daily timeframe GBP USD has formed a break and retest pattern on the daily timeframe.
Previous resistance level turn into support level.
So we will be looking for buying opportunities from the lower timeframe.
Gbpusddailyanalysis
GBPUSD:31/10/2023: Daily Chart Analysis
You can see important support and resistance in the pound's daily chart.
As you can see the price couldn't make a lower low after touching the bearish order block and the price broke the previous high so we can expect a bullish movement for GBPUSD.
There is the bearish order block in front of the price and then a liquidity pool above the previous minor and major lows which can be defined as targets of this bullish move.
Please pay attention to the details on the chart.
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🗓31/10/2023
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GBPUSD 27/09/2022Price formed a recent resistance at 1.0873 & support at 1.0737 while also moving by creating higher lows into the resistance by following a shorter TF uptrendline. so if price makes a break & close above the resistance with these higher lows, then it could move all the way up to the next resistance at 1.1201.
However a breakout of the recent support at 1.0737 might lead the price to go down towards the next support at 1.0563 again creating a ranging phase.
GBPUSD 26/09/2022Price seems to have created a recent resistance at 1.0596 after forming a new low at 1.0352. now if price respects the recent low as support & makes a break & close above the resistance then price might continue to push up to retest the next resistance at 1.0833.
GBPUSD 19/09/2022the price current moving facing support at 1.1352 & resistance at 1.1445 while moving in a downtrend channel. now if price respects the resistance & closes below the support, then price continue moving in respect to the downtredn channel creating new lower low.
And if price breaks out of the resistance then it could go for some retracements & possible short trades would be invalid.
GBPUSD 12/09/2022GBPUSD just created a new high at 1.1695 after breaking out of the previous resistance at 1.1642 while moving in respect to a new formed uptrendline and it also has a key support zone at 1.1605.
Now if price continues to respect the support zone at 1.1605 and makes a breakout above the recent high at 1.1695 then it could continue to push up to the next resistance zone at 1.1753 while moving the newly formed uptrend.
GBPUSD 08/09/2022Price after a retest on the low from 2020 at 1.1411 faced storng price rejection. now price has a resistance at 1.1537. so if price makes a breakout of the resistance while respecting the low at 1.1411 as support then price could continue pushing up to retest the next resistance at 1.1606.
GBPUSD 07/09/2022gbpusd currently facing resistance at 1.1465 & support at the new low it made at 1.1405. so if price continues to respect 1.1465 as its resistance and makes a breakout of the recent low then it could continue to push down creating lower low.
However if price finds support and makes a breakout f the resistance at 1.1466 with bullish move then price might go for some retracements all the way to retest 1.1520 & also make a retest at the htf downtrendline.
GBPUSD 06/09/2022The price is currently ranging in between 1.1601 & 1.1503 creating a new resistance & support. so if the price makes a breakout of the resistance then it could push upto the next resistance at 1.1648 on short timeframe pov. and if price even breaks & closes above 1.1648 on higher tf pov then price might push all the way to 1.1752 & would be breaking out of the downtrend and shift towards an uptrend.
However, if price respects the resistance & breaks out of the support at 1.1504 then it could continue to push down to the previous low at 1.1443.
GBPUSD 05/09/2022Price facing recent resistance at 1.1524 & made new low at 1.1448. if price makes a breakout of recent resistance, then it would be a breakout of the recent downtrend & price might continue to go up all the to retest next resistance at 1.1601 & also make a retest on the htf downtrendline.
But if price finds strong resitance at 1.1524 & breaks out of recent low then gu might continue to go down creating new lower low.
GBPUSD 30M (waiting for breakout)waiting for a proper breakout of the mentioned zones to look for further trades in the direction of the breakout.
GBPUSD D & H1 | PULLBACK | SHORTHello Traders. I hope all are doing well. I will go straight to the point. If we see the daily time frame, we can see that there are two key level at 1.42459 and 1.14023 as well as there are few target points. Price is going toward the target 1 which is at 1.22080 after reaching their, it can go back to the target 3 because clearly it's a down trend and RSI is showing overbuy and there is a key level as well. Furthermore, if the price cross target 3, it may reach target 4. In the other hand it can travel target 2 and after that it can come back to the ground again.
GBPUSD analysis on the daily chartFirst: It is in an uptrend, meaning that the general trend is buying.
Second: It broke a continuation triangle, and its targets are 1.39851 - 1.41029.
Third: The formation of double bottoms, and if it breaks through the neckline 1.39013, its target becomes 1.41029.
Fourth: All of this, provided that it does not break 1.38246.
