Analysis on GBP/USD. Long or Short?

Jul 10, 2020

GBPUSD

Time Frame: 1H
Market Structure: Healthy Up Trend (Respecting EMA50)
Levels to Consider:

Major Trend Line (Down) - around 1.2680
Major Resistance (Down) - 1.2617

If Major resistance breaks we could see a test for major trend LINE or else possibly another chance of down trend for a week.

If Major resistance rejected we could see a retest at 1.2507.

Jul 10, 2020

Note

Will update this chart every now and then.

Jul 10, 2020

Note

Wait for a crossover candle at 1.2617 to confirm.

Jul 10, 2020

Note

We just saw a retest at the trend line, wiping out the sellers. Buyers are at hand!

Jul 10, 2020

Trade active

It just broke out from massively from 1.2617. We want to see major trend line to be broken at 1.2675-1.2680.

Jul 10, 2020

Trade active

It just closed above 1.2617 with a good bullish candle. This is a possible breakout to the Major Trend Line.