Gbpusd is at strong support level daily and weekly tf 1.3570 which has potential to bounce it back to 1.40 levels as we are still above ma 50 if it fails next buying zone will be at 1.3425. i will be only looking for longs from these levels but if we go below 1.3540 and h4 or daily close below it short for target 1.3425 and later long on those levels (1.3425) but...
First: It is in an uptrend, meaning that the general trend is buying.
Second: It broke a continuation triangle, and its targets are 1.39851 - 1.41029.
Third: The formation of double bottoms, and if it breaks through the neckline 1.39013, its target becomes 1.41029.
Fourth: All of this, provided that it does not break 1.38246.
👉🏻 Overall bullish bias on GBPUSD. Recent price movement clearly provides us with a corrective scenario, either a ABC corrective or a more complex WXYXZ which is yet to be completed. If price were to form the final corrective wave of Wave-Z , we could see price to reach 1.35500 area, or even 1.35000. Previous significant...