FX:GBPUSD   British Pound / U.S. Dollar
Possible upward movement of the pair. The price is currently in an important volume trading zone on 1 and 4 hour timeframes, maintaining rejection by the low part of the price near the 55-period EMA, fundamental in strategy for trend continuation analysis. We see an accompaniment of larger timeframes with a possible change in direction within a short time in indicators such as the Squeeze Momentum and MACD hsitogram, together with the loss of strength of the previous downward rebound movement indicated by the ADX with a negative slope and below the level 23. I trade on a one-hour timeframe accompanying a possible 4-hour move to the upside with a significant bullish divergence and the arrival of the important control volume point to confirm a pattern of possible bullish movement with rejections at the bottom of the price and accompaniment of a possible buy signal shortly at the MACD line. I believe that this accompaniment in different timeframes would give us a very possible upward movement looking for previous highs and even continue an upward trend since we have come out of a compression zone in 4 hour timeframes and we are above the EMA of 55 periods in this longer period.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.