GBPUSD Buy Opportunity Forming At The Moment

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GBPUSD Short Term Forecast Follow Up And Update

Hi Traders! GBPUSD buy opportunity forming at the moment. A detailed analysis of this setup is as follows:

GBPUSD H1 Chart:

On the H1 chart the price which was moving higher has broke above the dynamic resistance and is holding above it. As long as this breakout up is holding, we are bullish and with every pullbacks we can look for buys. In addition to this the price is also moving inside a channel and this channel is formed by the price reaching similar support and resistance zones. Currently the price is near the bottom of this channel, hence we may now look for bullish evidences and start looking for buys.

GBPUSD Buy Opportunity Forming At The Moment

 

Note: As long as the green marked zone is holding we are looking for buys. So any visit lower to this levels is a good opportunity for buys.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

 

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Gavin
Gavin
2 years ago

Thanks for your trade ideas, really helpful

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Troy
Troy
2 years ago

Thank you Yordan

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Steve
Steve
2 years ago

Thanks for the idea

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