The pattern on the GBPUSD is a Channel Up supported by the 1D MA200 (orange line). As long as it holds, the Lower Highs Resistance and red Resistance levels will be targeted. If the pair drops below the 1D MA200, then the buy opportunity will be at the bottom of the channel and on the 1D MA50 (blue line) most likely.
A signal that this rise can be sustained at an even longer horizon is the formation of the bullish cross between the 1D MA50 and the 1D MA100 (green). When the opposite formation was made back in February, the pair started the major 2022 downtrend that didn't break above the 1D MA100.
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A signal that this rise can be sustained at an even longer horizon is the formation of the bullish cross between the 1D MA50 and the 1D MA100 (green). When the opposite formation was made back in February, the pair started the major 2022 downtrend that didn't break above the 1D MA100.
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## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial