GBPUSD has floored upwards towards the 1.1700 region with the bullish momentum being build afer the new Prime Minister for UK has been selected. We are looking at a bullish intraday setup for the pair from the support level priced at 1.1565. This region defined the bullish trend by forming higher highs and higher lows. 

The descending trendline has been broken out for buys and the candles have validated the bullish trend amongst the bullish breakout as well. 

There is no retracement indication currently on the pair.

EMA 50 beautifully tapped the prices at the support level earlier, being below the market, it depicts the trend is still bullish and continuing upwards. That being said, we will continue buying the pair as the EMA 50 is steep curved upwards.

RSI is at 61. We need the RSI to neutralize at the 50 level. Once neutralized, we will have the technical factors aligned with other factors in order to go bullish.

Intraday GPBUSD buys

Oct 26 2022

Stop Loss -0.45%

Holding time 22hr

1.15597

Entry price

1.15074

Stop loss price