Slight Bullish Bias – GBP/USD shows potential for a mild uptrend with key support at $1.2617. Monitor H1 reversals and manage risks effectively for trading opportunities. was not triggered. Today’s GBP/USD Signals
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Long Trade Ideas
Short Trade Ideas
The best method to identify a classic “” is for an hourly candle to close, such as a , a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the that occurs at the given levels. GBP/USD AnalysisI wrote in my previous forecast for just over one week ago that the technical picture had become more bullish, but it was not clear that the price would be able to advance beyond the $1.2650 area.This was not a great call as there was a powerful bullish breakout beyond $1.2650 but it quickly came crashing down, leading to a loss for bulls. have become quite dull as the US Dollar consolidates and major currency pairs like this one just chop around.The price chart above shows a consolidation, although there are two bullish technical features:
I think the price has a chance to rise today, and a bullish bounce off the at $1.2617 could be a perfect entry signal.There is nothing of high importance scheduled today concerning either the GBP. Regarding the USD, there will be a release of the most recent at 7pm London time.More By This Author:AUD/USD Signal: Bullish Outlook Ahead Of FOMC MinutesGBP/USD Signal: Neutral Outlook But A Bearish Breakdown Is PossibleBTC/USD Signal: Bitcoin Price Is Positive As A Bullish Pennant Forms
