Forex Signals – GBP/USD Bounce off Support – Quick Buy Signal!
Key Resistance Levels: 1.4084, 1.4118, 1.4158
Key Support Levels: 1.4009, 1.3970, 1.3935
The GBP/USD pair is trading strongly bullish at 1.4103 level after closing a shooting star candle at 1.4050 level. Closing of the candle above 1.4015 level is suggesting odds of bullish trend continuation in Sterling. Previously, the same trading level of 1.4015 was working as a double top pattern. Since this level has already been violated, now it’s working as a support. On the higher side, the GBP/USD pair may target 1.4176 and 1.4248 levels.
GBP/USD Medium-Term Trend: Bullish
On the 2-hour timeframe, the GBP/USD has closed the “Three White Soldiers” candlestick pattern which is demonstrating a strong buying trend in the Cable. Today, the idea is to stay bullish over 1.4040 level to target 1.4177 and 1.4248 level today.
Buy Limit @ 1.4045
TP 1 @ 1.4177
TP 2 @ 1.4248
Stop Loss @ 1.4000
Trade Safely 🙂