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May 5, 2021 10:17 AM

GBPUSD is facing bullish pressure | 5 May 2021 Long

British Pound/U.S. DollarFXCM

Description

Prices are approaching our support in line with our ascending trend line where we could see a bounce above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Comments
VasilyTrader
Good market breakdown!
Trendsharks
Definite bullish pressure ahead of the ISM Services data in the U.S. The evolving setup also entails the possibility for shorting the GBPUSD once the upswing you've projected is completed. Your ascending trend line and TP area outline a nice Ascending Triangle, which is a typical bearish pattern. An eventual dropdown below the ascending line would signify the readiness of the pair to start diving.
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