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💡 GBPUSD: Analysis May 20

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Paun British / Dolar A.S. (OANDA:GBPUSD)  
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OANDA:GBPUSD   Paun British / Dolar A.S.
Trend Analysis Technical Indicators Wave Analysis GBPUSD gbpusdlong gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdsetup gbpusd_forecast gbpusdforecast
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trendanalysis indicator waveanalysis gbpusd gbpusdlong gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdsetup gbpusd_forecast gbpusdforecast
Last Friday up D1 bar for GBPUSD had a lower shadow and closed near the top, showing good buying pressure. Before that, bar D1 decreased but created a bullish pinbar, also showing buying pressure. The recent price behavior of GBPUSD D1 at this resistance suggests the possibility of a breakout from the most recent peak to establish an uptrend again.

GBPUSD H1 broke out of the H1 sideways price range and bounced up, setting a new high price peak to return to the short-term uptrend. Currently, the price is moving sideways above the old peak, which is a form of price compression and can easily lead to a price bounce upward. The main trend of GBPUSD H1 today is waiting to buy.

💡 Trend H1: GBPUSD increases.
Today's trading idea: Buy GBPUSD.

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