Analysis on GBP/USD. Long or Short?

Time Frame: 1H
Market Structure: Healthy Up Trend (Respecting EMA50)
Levels to Consider:

Major Trend Line (Down) - around 1.2680
Major Resistance (Down) - 1.2617

If Major resistance breaks we could see a test for major trend LINE or else possibly another chance of down trend for a week.

If Major resistance rejected we could see a retest at 1.2507.

Nota

Will update this chart every now and then.

Nota

Wait for a crossover candle at 1.2617 to confirm.

Nota

We just saw a retest at the trend line, wiping out the sellers. Buyers are at hand!

Trade attivo

It just broke out from massively from 1.2617. We want to see major trend line to be broken at 1.2675-1.2680.

Trade attivo

It just closed above 1.2617 with a good bullish candle. This is a possible breakout to the Major Trend Line.

sybuhat

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