GBPUSD Technical analysis.The image is a technical analysis chart for GBP/USD (British Pound to US Dollar) from TradingView, published on March 11, 2025.
Key Observations:
1. Support Zone Identified:
The purple box represents a support area around 1.2852 - 1.2875.
Price is currently testing this support level.
2. Bullish Trade Setup:
A potential long trade is marked, with an entry near the support zone.
The green area represents the target profit zone, reaching around 1.2962.
The red area represents the stop-loss, slightly below support.
3. Potential Scenarios:
Bullish Breakout: If price holds above support and gains momentum, it could move toward 1.2962.
Bearish Breakdown: If support fails, price may drop below 1.2850, triggering a stop-loss.
4. Economic Events & Volatility:
There are multiple U.S. and U.K. economic events indicated at the bottom.
These could lead to increased volatility, impacting the trade.
Conclusion:
Bullish Bias: A buy trade setup is in play, with a good risk-to-reward ratio.
Key Levels to Watch:
Support: 1.2852 - 1.2875