GBPUSD IS READY TO FLY SOON AND MUST READ ITS CAPTION

l’altro ieri

This chart is a technical analysis of the GBP/USD currency pair on the 4-hour timeframe, created using Heikin Ashi candlesticks. Below is a breakdown of its key elements:

1. Current Price Levels:

The current price of GBP/USD is marked at 1.24476 (SELL) and 1.24466 (BUY).



2. Support Zone:

A green horizontal area represents the support zone around the price range of approximately 1.24064–1.23168. This is where buyers are expected to enter the market.



3. Resistance Zones:

Two blue horizontal areas indicate resistance zones at:

Around 1.25899.

Around 1.27158.




4. Target Zone:

The upper resistance zone at 1.27158 is labeled as the "Target Zone," suggesting the expected price movement's upper limit.



5. Projected Price Movement:

Two yellow arrows and a black zig-zag line indicate potential bullish price movements from the support zone to the target zone.

The price is expected to rise, face minor resistance at 1.25899, and then move toward the final target at 1.27158.



6. Stop Loss:

The stop-loss level is indicated below the support zone, around 1.23168, to minimize losses in case the price moves downward.




Interpretation:

This chart suggests a bullish outlook for GBP/USD, with the expectation of the price moving from the support zone to the resistance zone and ultimately reaching the target zone (1.27158). The analysis also incorporates risk management through a stop-loss level.