GBPUSD Technical Overview And Trade Setup
On the Daily Chart A Bullish Alt Bat Harmonic pattern is confirming the bullish correction.
On the smaller chart timeframes, Cable is testing the descending trendline resistance. And it is trading at the rising trend line on the smaller chart timeframes.
The pair is trying to hold in the upper Bollinger bands on H4 Chart.
A break and Close above 1.27250 will carry the price 1.27450 and 1.27560.
GBPUSD needS to make H4 closings above 1.27560 to continue its upward movement. Above 1.27560, 1.28100 is the main resistance.
Rules To Keep In Your Mind: Trade Safe. Money Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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