Get started
MountOlympusFx

GBPUSD BUY: Weekly, Daily & 4hr. Multiple timeframe analysis.

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
MountOlympusFx Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD Forex
1
0
trendanalysis harmonicpatterns chartpattern gbpusd forex
snapshot
snapshot
snapshot


GPBUSD Weekly:
• This pair is currently in a strong bear trend with price printing series of lower highs & lower lows.
• Last weeks candle closed as a bullish hanging man. A reversal is expected however, this candle closed directly above 1.2700 monthly resistance.
• Candle rejected off moving averages with huge wicks. Moving averages are bearish.

GBPUSD Daily:
• Some huge moves in the market last week with Thursday candle forming a huge wick to the downside tapping 1.2450 weekly support but rejected off it and made its way back up and closing as a bullish hammer candle.
• Pair double bottomed at last years lows and rallied up from this level breaking through multiple resistance levels and closed above 1.2675. Next target for GU 1.2825 resistance.
• Moving averages are about to crossover bullish.

GBPUSD 4hr:
• After a daily break of 1.2675 price is now set to retrace back to 1.2675 for a retest before going long to 1.2825 resistance.
• We need to be cautious of the descending trendline for a possible reversal from there.
Order cancelled:
No longer valid
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.