Currently, the GBPUSD is still on the rise to the top of the Daily descending channel it's in. However, there is a small ascending Channel on the 1h chart as well making a nice opportunity for a buy on the 1h chart. SL and TP levels are shown on the chart. Before you take your entry please just wait for the candlestick reversal and keep an eye on the RSI as well to start going above the 50 line, that should happen shortly on the bottom part of the 1H channel more or less, but it could happen earlier. Trade safe :)
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The price bounced off nicely above the key level and the RSI is above 50 now. Candlestick reversal pattern was confirmed for a Long position. I went into the trade. Let's see how it goes.
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TP1 reached with a nice profit, now waiting for TP2.
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Since the trade is going well so far, I am moving my stop loss to break even level to minimize the risk of loss if anything goes south.
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It hit my first TP level and after that it went down fast and hit the SL. So I pretty much broken even with this trade.