GBPUSD has two confluences which signifies potential strong buy movement.
1. bullish flag (H1 and H4)
2. double bottom (H1 and H4)
GBP USD already completed the bullish flag and already made a breakout above high. GBPUSD made a comeback to the price 1.38751 from a previous low price at 1.37917. This price movement could push GBPUSD to higher price levels.
Confirmation for buy trade entry:
1. Wait for the price to cross 1.38770 price level or
2. above the resistance zone at 1.38835
Exit Levels:
The following level could serve as the take profit level for the long trade exit:
TP1: 1.39648
TP2: 1.39838
TP3: 1.40363
TP4: 1.41030
Risk to Reward Ratio: 3:1
1. bullish flag (H1 and H4)
2. double bottom (H1 and H4)
GBP USD already completed the bullish flag and already made a breakout above high. GBPUSD made a comeback to the price 1.38751 from a previous low price at 1.37917. This price movement could push GBPUSD to higher price levels.
Confirmation for buy trade entry:
1. Wait for the price to cross 1.38770 price level or
2. above the resistance zone at 1.38835
Exit Levels:
The following level could serve as the take profit level for the long trade exit:
TP1: 1.39648
TP2: 1.39838
TP3: 1.40363
TP4: 1.41030
Risk to Reward Ratio: 3:1