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GBPUSD Is trading within rising channel 1.34000 Key level ahead

Long
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD
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⏳1 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
πŸ“šEducational

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Detailed analysis πŸ’¬

1️⃣ Negative USD-Positive brexit talks will boost this pair upwards
2️⃣GBPUSD was trading within broad rising channel
3️⃣ 1.32500 50% Fibonacci Acting as Dynamic support and resistance
4️⃣ 1.34000 Major upper side resistance Key reversal area
5️⃣ 1.33100 acting as key support and resistance level
6️⃣ 1.33150 78.6% Recent support level for Bull
7️⃣ Technical support - Bull
8️⃣1.34000 will acted as key reversal-bearish
9️⃣ Series of HH HL HH HL patterns
πŸ”Ÿ Possible swing target-1.34500 Upper side trendline resistance
#️⃣ Overall bullish trend-Within Broad rising channel pattern

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πŸ“‰ Technical bias-H4-Bullish

Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as support-Bull
Ichimoku cloud -cloud is still green-About to turn red Cloud support(Bull)
Bollinger band- Price reached around middle band is about to break out soon
Relative strength index - Reached around 50 neutral area 50- Will act as support for bullish trend
MACD -Turned red and fell below the signal line ,oscillators about to cross soon
Stochastic - Reached around 60- Oscillators are converging


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Key reversal area's

1.33000 psychological level
1.33800 Today high
1.34000 Key reversal area/psychological level
1.33350 78.6% Fibonacci retracement level
1.32860 61.8% Fibonacci retracement level
1.32510 50% Fibonacci retracement level
1.32000 Major psychological level
1.33100 Price action level/Possible entry- Bull
1.34500 Trendline resistance/Alternative bearish entry

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Bullish entry #pound #gbpusd

Entry price - 1.33200

Take profit 01 - 1.33800 (60 PIPS)
Take profit 02 - 1.34500 130 PIPS)

🚫 Stop lose 1.32800 ( 40 PIPS)

⬆️ 1% Growth expected
‴️ Account growth .30: .98
βœ… Risk reward ratio 1 : 3

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