GBP/USD Ascending Channel Supports Buying the Dips

1 min read
tarantula fx

tarantula fx

Head of Trading

The GBP/USD has formed a bullish pin bar straight at W L3 and monthly H3 confluence support, thus suggesting possible bullish bounce.

W Cm – weekly camarilla level supports buying the dips within 1.3935-45 and the first target could be W H3- 1.3985. Strong 1h momentum or 4h close above W H3 is needed for the pair to proceed further up towards 1.4028.
As long as the channel holds, we might see bullish price action and ideally 1.3910 should hold in order for the pair to remain bullish.

Good trading,

Nenad Kerkez aka Tarantula FX

Leave a Reply


This site uses Akismet to reduce spam. Learn how your comment data is processed.

Notify of