GBPUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
A key horizontal level has become resistance, and the price is currently rebounding.
Daily
The last pullback high of the recent downtrend has been broken to the upside with candlestick bodies.
Higher highs and higher lows are forming, indicating an uptrend.
4-Hour
Uptrend.
The price has currently dropped near the lower boundary of the ascending channel and the previous high line.
Since the 21-day moving average also overlaps with this area, buy orders may come in.
1-Hour
The larger trend is upward.
Following the FOMC interest rate policy announcement, the price moved sharply for a while.
It is now moving near the lower boundary of the ascending channel.
Trade Strategies
The higher timeframe trend is upward, and since the price is currently near the lower boundary of the 4-hour channel, I will look for a pullback buy.
I will continue aiming for buy orders unless the price clearly breaks below the swing low line that formed the recent high on the 4-hour chart.
Currency Strength
【EURUSD】4H
EUR>USD
【GBPUSD】4H
GBP>USD
【USDJPY】4H
USD<JPY
【EURJPY】4H
EUR>JPY
【GBPJPY】4H
GBP>JPY
【EURGBP】4H
EUR>GBP
USD<JPY<GBP<EUR
