Hi Traders! In GBPUSD bullish continuation is expected. A detailed analysis of this buy opportunity is as follows:
GBPUSD H4 Chart:
On the H4 chart we have an uptrend line that has formed and the price is respecting it so far. Until this uptrend line holds, we may expect this bullish momentum to continue and the price to move higher further. We may now look for evidences of bullish pressure on lower timeframes in order to join the bulls.
GBPUSD H1 Chart:
On the H1 chart we have two critical zones and the price is nearing the first critical zone. Once the price reaches this zone look for evidences of bullish pressure and then start looking for buys. Alternatively if the price breaks below this zone then the next area to look for buys would be the second critical zone with bullish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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