GBP/USD Analysis – 4H Bullish MomentumHello, Traders! 👋
Here’s my latest analysis of GBP/USD on the 4H timeframe. The chart presents compelling bullish signals that suggest a continuation of the upward trend after a potential retracement.
Key Observations:
1️⃣ Bullish Divergence on RSI:
- The 4H RSI displays a bullish divergence, indicating potential buying momentum as price action aligns with oversold conditions reversing upwards.
2️⃣ Market Structure Shift:
- A clear shift in market structure supports bullish sentiment, confirming the likelihood of a continued rally after the retracement.
3️⃣ Retracement Zone:
- The market is likely to retrace to the 1.2580 level, offering an optimal entry zone for buyers before the next leg upward.
Target Levels:
- Short-term: 1.2850
- Mid-term: 1.3000
- Long-term: 1.3450
Trade Plan:
🔹 Entry Zone: Look for bullish price action confirmation near the 1.2580 level.
🔹 Stop Loss: Place stops below 1.2505 to account for potential volatility.
🔹 Take Profit Levels:
- 1.2850
- 1.3000
- 1.3450
Risk Management:
Risk no more than 1-2% of your capital on this setup. Be patient and wait for retracement confirmations to enter long positions.
Monitor the retracement to the 1.2580 level for potential buy entries, with targets scaling up to 1.3450.
Let me know your thoughts and share your ideas below. Happy trading! 🚀
#Forex #GBPUSD #Bullish #TradingViewIdeas
