Exploring the bullish case scenario in GBP/USD
Previously in my Monday's trade idea, I recommended buying GBP/USD
@1.2560. As expected, we are currently up 70 pips from our buy area.
📌If you look at the daily chart in GBP/USD, you will notice that the downtrend
seems to have lost momentum in the 100-day moving average region. This area
is crucial as it can lead to a bullish reversal.
📌 My recommendation is to buy the dips in GBP/USD@1.2570-1.2620 with Stop Loss
below 1.25.
📌TPs can be placed at 1.28 which is the minor resistance. Once it is broken, bulls
can target 1.2980 and 1.3120 as TP.
@1.2560. As expected, we are currently up 70 pips from our buy area.
📌If you look at the daily chart in GBP/USD, you will notice that the downtrend
seems to have lost momentum in the 100-day moving average region. This area
is crucial as it can lead to a bullish reversal.
📌 My recommendation is to buy the dips in GBP/USD@1.2570-1.2620 with Stop Loss
below 1.25.
📌TPs can be placed at 1.28 which is the minor resistance. Once it is broken, bulls
can target 1.2980 and 1.3120 as TP.
