๐ Potential BUY setup for: GBP/USD
๐ฉ๐ฝโ๐ปTechnical: On the daily timeframe, the price seems to be following an ascending channel pattern, which usually signals a bullish trend. Nevertheless, it's worth keeping in mind that the 1.25833 level has acted as a strong resistance zone, with the price repeatedly failing to breach it.
๐ฏ For an ideal entry: There are two possible strategies to consider for this trade. The first option is to enter now and aim for a 20-pip gain, targeting the previous high zone. The second approach is to wait for a 4-hour candle closure to confirm a bullish bias and then set a profit target based on the upper channel trend.
๐ฏ For an ideal entry: There are two possible strategies to consider for this trade. The first option is to enter now and aim for a 20-pip gain, targeting the previous high zone. The second approach is to wait for a 4-hour candle closure to confirm a bullish bias and then set a profit target based on the upper channel trend.