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.
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.
If you want to learn how to do such analysis yourself, if you are looking for a professional team of traders and one of the best online trading communities, If you are looking for enormous archive of Webinars, Trading Tools, Trading Strategies, Books, Indicators, Expert Advisors and much much more, join my traders academy club for only $97 PER YEAR.
Also you can get one of my strategies free of charge. You will find all the details here
Chief Trader at Traders Academy Club