GBPUSD Bulls Game Plan!
- On the Daily Chart:
- Support appears to be forming around the 1.2200 region, which could act as a floor for price movement.
- If the price rises, 1.2300 could be a potential resistance level to watch for.
- A close below 1.2154 could signal a bearish sentiment and lead the market towards the 1.2100 zone.
- On the H4 Chart:
- A close below 1.2174 would further confirm bearish pressure, suggesting that sellers may take control.
- Alternatively, if the bulls manage to push the price upwards, breaking 1.2300 could signal a potential move higher, indicating bullish momentum.
In summary:
- Bearish scenario: Close below 1.2154 (Daily) or 1.2174 (H4), targeting 1.2100.
- Bullish scenario: Price rises and holds above 1.2300, suggesting further upside potential.
This gives you a framework to monitor both support and resistance levels on the charts.
- Support appears to be forming around the 1.2200 region, which could act as a floor for price movement.
- If the price rises, 1.2300 could be a potential resistance level to watch for.
- A close below 1.2154 could signal a bearish sentiment and lead the market towards the 1.2100 zone.
- On the H4 Chart:
- A close below 1.2174 would further confirm bearish pressure, suggesting that sellers may take control.
- Alternatively, if the bulls manage to push the price upwards, breaking 1.2300 could signal a potential move higher, indicating bullish momentum.
In summary:
- Bearish scenario: Close below 1.2154 (Daily) or 1.2174 (H4), targeting 1.2100.
- Bullish scenario: Price rises and holds above 1.2300, suggesting further upside potential.
This gives you a framework to monitor both support and resistance levels on the charts.
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.