Hey Traders!
I'm currently eyeing GBPUSD as a solid buy opportunity. Here's why: we're seeing a clear uptrend, and importantly, it's just broken through a key monthly pivot point. What's more convincing is the formation of a 4-hour bullish engulfing candlestick pattern. Also, the 1-hour chart shows a double bottom that's successfully broken its neckline. After a brief pullback, it seems poised to retest its previous top levels.
Keep an eye on the 1.28000 mark. It's shaping up to be a strong resistance level, but if it's breached, we could be looking at some serious gains. However, always remember to manage your risks wisely. I'd suggest setting your first take profit target within the 20-40 pips range.
I'm currently eyeing GBPUSD as a solid buy opportunity. Here's why: we're seeing a clear uptrend, and importantly, it's just broken through a key monthly pivot point. What's more convincing is the formation of a 4-hour bullish engulfing candlestick pattern. Also, the 1-hour chart shows a double bottom that's successfully broken its neckline. After a brief pullback, it seems poised to retest its previous top levels.
Keep an eye on the 1.28000 mark. It's shaping up to be a strong resistance level, but if it's breached, we could be looking at some serious gains. However, always remember to manage your risks wisely. I'd suggest setting your first take profit target within the 20-40 pips range.