Buy GBPUSD Wedge Breakout

24 Jun 2024

The GBP/USD pair on the H1 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the Upside in the coming Hours.

Key Points:

Buy Entry: Consider entering a Long position around the current price of 1.2660, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels:
1st Support – 1.2737
2nd Support – 1.2803

Stop-Loss: To manage risk, place a stop-loss order below 1.2600. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

Thank you.

24 Jun 2024

Dagangan aktif

24 Jun 2024

Nota

Market Factors:

Weaker USD: The US Dollar might experience some weakness due to profit-taking after recent gains. If the USD weakens broadly against other currencies, it could benefit the GBP/USD pair.

Positive UK Data: Stronger-than-expected economic data releases from the UK could boost confidence in the Pound and lead to its appreciation against the USD.

Dovish Fed vs. Hawkish BoE Expectations: The Federal Reserve might be nearing the end of its interest rate hike cycle, while the Bank of England (BoE) could take a more hawkish stance to combat inflation. This narrowing of the interest rate differential could strengthen the GBP relative to the USD.

25 Jun 2024

Nota

Now running with Good profit

3 Jul 2024

Nota

4 Jul 2024

Dagangan ditutup: sasaran tercapai