GBP/USD Multi-Timeframe analysis (Update)

Hi Traders

GBP/USD Multi-Timeframe analysis (Update)

H1 CHART (BULLISH)

A very high probability, entry signal to go LONG was given at 1.40910 after the market found support at 1.40514 . Only the downward break of 1.40514 would cancel the bullish scenario.

Support & Resistances
1.40506 1.40967
1.39797 1.41225
1.39259 1.41663

H4 CHART (BULLISH)

Target 1 at 1.40229 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 1.38780 . Provided the market conditions will remain the same Target 2 will be reached soon.

Support & Resistances
1.38283 1.38650
1.37748 1.38761
1.35644 1.39507

DAILY CHART (BULLISH)

Waiting for a retracement lower towards the 1.37027 support level, in order to reinstate LONG positions. Next important support is the 1.36234 level.

Support & Resistances
1.37027 1.40351
1.36234 1.41053
1.35378 1.45180

WEEKLY CHART (BULLISH)

Waiting for a retracement lower towards the 1.34812 support level, in order to reinstate LONG positions. Next important support is the 1.30112 level.

Support & Resistances
1.34812 1.40351
1.30112 1.47642
1.26743 1.60794