Bullish GBP/USD Retraces and Creates Fantastic BUY Opportunity

In this idea I will share my technical analysis on GBP/USD and explain what the most important things are to pay attention to.

Here on GBP/USD we see that overall the pair is in an uptrend, which can give us a slight bullish bias, favoring long positions over short positions.

At the same time we see a small horizontal channel forming between the horizontal support and horizontal resistance.

What we're looking for in trading is simply adhere to the age-old principle buy low and sell high.

Based on the horizontal support and resistance we can see that the price is low right now, while getting confirmed on the support area.

I suggest a long trade towards the resistance which should give you about 160 pips.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!