GBPUSD Ascending Support Hold – Bullish Recovery Setup

Mar 27

The chart shows **GBPUSD on the 1H timeframe** respecting a strong **ascending trendline support**, indicating underlying bullish structure. After a period of consolidation and choppy movement, price dipped into the trendline and found support, showing signs of a potential **bounce**.

The Ichimoku cloud is acting as dynamic resistance above, but price is gradually stabilizing and forming higher lows near support. This suggests buyers are stepping in, preparing for a possible move upward.

If price maintains above the trendline, a **bullish continuation toward the resistance zone** is likely.

**Target:**

* 🎯 **Primary Target:** 1.3400 (near-term resistance / liquidity area)
* 📈 Break above this level could open further upside

**Bias:** Bullish while price holds above ascending support.

Mar 27

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