GBPUSD Intermediate Trend is bullish
**Yearly Chart**
At the start of the year, I like to see the yearly candle first. On GBPUSD the yearly candle closed as a bullish inside bar after bouncing from the key low level at 1.20000 (round number) after bouncing from the year 1983 historical low.
**Monthly Chart**
Last month's candle closed bullish after creating a ring low pattern (engulfing candle) from Nov 2023 and also bounced from the inverted H&S pattern. This also indicates the intermediate trend on the monthly chart is bullish and we will see a good move toward 1.35000 and 1.4000 levels.
**Weekly Chart**
Weekly directional bias continues to be long. However, the price is at a critical area which may cause short-term moves lower before it continue going higher. Therefore, I will be looking to buy at the test of demand zones around 1.2550 levels.
But if the price sustains the movement higher but doesn’t break the manipulation candle (MC) on weekly around 1.3000 level (round number) then I would anticipate a short-term trading opportunity to see near that supply zone.
**Daily Chart**
In the coming days and weeks, I will be cautiously watching this pair for a good opportunity to buy at retracement from 1.2500 level to presume a bullish trend. These opportunities can be found clearly on daily and 4 hourly charts.
At the start of the year, I like to see the yearly candle first. On GBPUSD the yearly candle closed as a bullish inside bar after bouncing from the key low level at 1.20000 (round number) after bouncing from the year 1983 historical low.
**Monthly Chart**
Last month's candle closed bullish after creating a ring low pattern (engulfing candle) from Nov 2023 and also bounced from the inverted H&S pattern. This also indicates the intermediate trend on the monthly chart is bullish and we will see a good move toward 1.35000 and 1.4000 levels.
**Weekly Chart**
Weekly directional bias continues to be long. However, the price is at a critical area which may cause short-term moves lower before it continue going higher. Therefore, I will be looking to buy at the test of demand zones around 1.2550 levels.
But if the price sustains the movement higher but doesn’t break the manipulation candle (MC) on weekly around 1.3000 level (round number) then I would anticipate a short-term trading opportunity to see near that supply zone.
**Daily Chart**
In the coming days and weeks, I will be cautiously watching this pair for a good opportunity to buy at retracement from 1.2500 level to presume a bullish trend. These opportunities can be found clearly on daily and 4 hourly charts.
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