The GBP/USD pair is currently showing strong bullish momentum as we head into the year-end. After the Bank of England's recent decision to cut rates to 3.75% (in a divided 5-4 vote), the British Pound has remained surprisingly resilient. This is largely due to the "reluctant easing" stance of the BoE and a broadly softening US Dollar.
🔍 Technical Analysis
On the daily and 4-hour timeframes, we are seeing a clear Bullish Structure:
Trend: Price is currently trading in an ascending channel, making higher highs and higher lows.
Key Resistance: 1.3518 (recent high) and the psychological 1.3550 zone.
Key Support: 1.3450 (former resistance turned support) and 1.3370.
Indicators: The RSI is oscillating above the 60 level, suggesting buying momentum is still in control but approaching overbought territory.
💡 The Trade Plan
I am looking for a continuation of this "Santa Rally" provided the price holds above the mid-1.3400s.
Long Bias: Looking for entries on a successful retest of the 1.3470 area.
Targets: First target at 1.3520, with an extended target near 1.3580.
Invalidation: A daily close below 1.3370 would shift the bias to neutral/bearish.
⚠️ Risk Warning
Liquidity is lower due to the holiday season, which can lead to "spikes" or stop-hunts. Trade with caution and use proper position sizing!
🔍 Technical Analysis
On the daily and 4-hour timeframes, we are seeing a clear Bullish Structure:
Trend: Price is currently trading in an ascending channel, making higher highs and higher lows.
Key Resistance: 1.3518 (recent high) and the psychological 1.3550 zone.
Key Support: 1.3450 (former resistance turned support) and 1.3370.
Indicators: The RSI is oscillating above the 60 level, suggesting buying momentum is still in control but approaching overbought territory.
💡 The Trade Plan
I am looking for a continuation of this "Santa Rally" provided the price holds above the mid-1.3400s.
Long Bias: Looking for entries on a successful retest of the 1.3470 area.
Targets: First target at 1.3520, with an extended target near 1.3580.
Invalidation: A daily close below 1.3370 would shift the bias to neutral/bearish.
⚠️ Risk Warning
Liquidity is lower due to the holiday season, which can lead to "spikes" or stop-hunts. Trade with caution and use proper position sizing!
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.