PabloSantander
Long

GBPUSD At Key Reversal Point

FX:GBPUSD   British Pound/U.S. Dollar
316 7 8
INDICATORS

1. Inverted Hammer
2. Bullish engulfing - Confirms reversal to the upside
4. Prices bounced off daily trend line (Support) - Bulls are still in control

CHART PATTERNS

A) 1 HR             Chart Displays an ascending triangle inside of
a bullish pennant-like pattern.

OUTLOOK:

After closing higher yesterday engulfing the previous days close, GBPUSD             looks set to push higher with a short term target of the 1.58900 area (key daily & weekly resistance levels) now insight. Expect prices to stagnate between 1.57300 & 1.57200 before a breakout occurs to the upside around target one.

NOTE: If GBP/USD             closes the day above key weekly Fib 61.8% Fib level, expect the bullish trend intact.


TARGETS LEVELS

T2 - 1.58935
T1 - 1.58125

STOP LEVELS

S1 - 1.56733
Yahia.Awes
2 years ago
Which tf chart is this?
Reply
PabloSantander Yahia.Awes
2 years ago
Daily chart
Reply
sudersanrao
2 years ago
Hi Pablo,
Your Chart & Explanation is Very Simple to understand for the Beginners to Learn.
I shall Follow you and try to Learn the Art. Thanks a Lot.
Reply
PabloSantander sudersanrao
2 years ago
Hey Sudersanro! It's great to hear you're enjoying the analysis and finding it useful. (Will definitely continue to do more like this) If you ever have questions or need help, feel free to message me. Thanks!
Reply
PabloSantander
2 years ago
Stop Hit Due to Market Gap.
Reply
PabloSantander
2 years ago
GBPUSD trading sideways - on the sidelines until tomorrow.
Reply
JamesZhang
2 years ago
GBP/USD Mid-Term Analysis Target:1.54580

i'm inclined to see it going down
Reply
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