GBPUSD has been in a bullish trend with the formation of higher highs and higher lows. With that, market is going to be testing the support level at the price of 1.2710 from where, the market can continue moving up as a bullish impulse. I will be buying the at the support level for another bull move.

The ascending trendline has been formed where the prices can retest and form a confluence for a further fuel up if the prices start to reject the support level.

The retracement level of 61.8% is in confluence with the support level from where a strong uphold can be seen.

EMA 50 is bullish and we may see another confluence with the retest of the EMA 50 at the support level from where the market can form a strong footing for a bullish cannotion. 

RSI is at 52. This needs to be neutralized at the level of 50 where the market can form the confluence of its technical factors with the oscillator.

GBPUSD buys from 1.2710

Jan 25 2024

Stop Loss -0.19%

Holding time 2hr

1.27100

Entry price

1.26857

Stop loss price