GBPUSD at a Critical Level – Will It Explode Higher or Crash ?
GBPUSD at a Critical Level – Will It Explode Higher or Crash ?
GBPUSD at a Critical Level – Will It Explode Higher or Crash ?
GBPUSD at a Critical Level – Will It Explode Higher or Crash ?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Chart Pattern
- The chart shows a strong uptrend after a long downtrend.
- The price broke above key moving averages, confirming a bullish reversal.
- Higher highs and higher lows indicate strong momentum.
Upcoming Events to Watch
- Bank of England (BoE) interest rate decisions and inflation data.
- U.S. Non-Farm Payrolls (NFP) and Federal Reserve updates.
- Brexit-related news and economic indicators.
Fibonacci Analysis Levels
- Key support at 1.2700 (previous breakout zone).
- Resistance levels at 1.3000 (psychological level) and 1.3150 (next major zone).
- A retracement to 1.2800 (38.2% Fibonacci level) could provide a buying opportunity.
Observations
- RSI at 53.91 suggests neutral momentum, with room for further upside.
- Momentum indicator at 100.30 shows strong price strength.
- Volume spikes confirm strong buyer interest.
Final Takeaway
- The trend is bullish, but a slight pullback may occur.
- Watch for confirmation at resistance before entering trades.
Breakout Strategy (Bullish)
1. Entry: Buy above 1.3000 with confirmation.
2. Target: Next resistance at 1.3150 – 1.3200.
3. Stop loss: Below 1.2850.
Breakdown Strategy (Bearish)
1. Entry: Sell below 1.2800 if price breaks support.
2. Target: Next support at 1.2700 – 1.2650.
3. Stop loss: Above 1.2950.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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