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 line of the downtrend had acted as resistance, but the price has now broken above it with candlestick bodies.
There is a possibility that it may extend up to a horizontal line that is significant on the weekly chart.
4-Hour
Uptrend.
The previously significant resistance line has been broken to the upside and has now turned into a support line.
1-Hour
Uptrend.
The upper boundary of the channel is currently acting as resistance, and the price may temporarily decline.
Trade Strategies
Considering a pullback buy near the daily trend reversal line, the 4-hour swing low, and the lower boundary of the ascending channel.
Although this would be counter-trend on the higher timeframe, I will watch the price action on the lower timeframes and aim for a short near the lower boundary of the channel.
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
