judielabaya

judielabaya

Currently, the price has broken above major resistance at a Weekly timeframe and retested it. it still prints very bullish candles on the 4H timeframe.

judielabaya Updated 

Price just broke above a major resistance at 5293.20 with a very bullish candle as shown on the 4H timeframe. As of now, price is on a buildup forming higher lows which shows strength on the long side. Moreover, the 200-period MA starts to indicate an inclination upwards.

judielabaya

Price is currently on a key level and an area of support that appears to be a bullish trendline. Overall, the trend seems to be pretty bullish in the Daily timeframe and having the 200-period MA below it. In the 4H timeframe, the price printed a very long wick on the downside and an indecisive candle. I will be looking for a buying opportunity once it shows more...

judielabaya

Currently, GBP/USD bounced off a minor support level at 1.3800, and is approaching the recent resistant level at 1.4000. Placing a buy stop a few pips above the recent candle and taking profit on the nearest high is highly suggested.