As you see in the 4H chart, price is at the middle of the ascending parallel channel.
There was a strong resistance level at 1.4 which has been tested by price for several times and finally has been broken out to the upside and has turned into a support level now.
CCI shows a hidden divergence: although price has made a lower low, CCI has made a higher low which means there would be more upside pressure.
IF price pulled back to the support level around 1.40400 - 1.40200 and got rejected again, we can enter a long position and expect a rise on GBPUSD to the the channel’s upper band around 1.42
What is your view about GBPUSD?
Feel free to share your ideas in the comments 🤗🙏🏻
There was a strong resistance level at 1.4 which has been tested by price for several times and finally has been broken out to the upside and has turned into a support level now.
CCI shows a hidden divergence: although price has made a lower low, CCI has made a higher low which means there would be more upside pressure.
IF price pulled back to the support level around 1.40400 - 1.40200 and got rejected again, we can enter a long position and expect a rise on GBPUSD to the the channel’s upper band around 1.42
What is your view about GBPUSD?
Feel free to share your ideas in the comments 🤗🙏🏻
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