Chinedumnweke

GBPUSD Long forecast

Long
FX:GBPUSD   Sterlina / Dollaro
Overall trend is an uptrend. Price is currently at the edge of daily key level between 1.3026 and 1.2976 after a determined push to the upside, which has served as resistance multiple times in the past. I will wait to see what price would do when it comes to retest hourly key level between 1.2976 and 1.2960. 200MA is expected to confluence with hourly key level at the point of price return. Perhaps this will help to strengthen the hourly key level and price can find a good support at that area to bounce off and continue to the upside. Either way, my buy entry will be after wick rejections around that area and a shift in momentum to the upside. SL will be below the support level and TP is nearly 4X bigger.
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