GBPUSD Crystal clear Channel Up.
GBPUSD is pulling back to the MA50 (4h) inside a Channel Up pattern.
Every Channel Up Higher Low has been on the MA50 (4h).
Trading Plan:
1. Buy when the price hits the MA50 (4h).
Targets:
1. 1.2670 (Resistance 1 and May 26th 2022 Top).
Tips:
1. The RSI (4h) is inside a Channel Down and every touch on its bottom was a buy entry for the pair. Use it as additional confirmation to enter.
2. Every rebound from the Channel Up bottom has been around +2.75%. As a result we can see the price rise a little higher than our suggested target, but we believe the long term Resistance affects the trend more.
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Every Channel Up Higher Low has been on the MA50 (4h).
Trading Plan:
1. Buy when the price hits the MA50 (4h).
Targets:
1. 1.2670 (Resistance 1 and May 26th 2022 Top).
Tips:
1. The RSI (4h) is inside a Channel Down and every touch on its bottom was a buy entry for the pair. Use it as additional confirmation to enter.
2. Every rebound from the Channel Up bottom has been around +2.75%. As a result we can see the price rise a little higher than our suggested target, but we believe the long term Resistance affects the trend more.
Please like, follow and comment!!
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