What to expect on GBP/USD by ThiningAntsOk
4H CHART EXPLANATION:
As we explained on the Daily Chart, price is on a bullish trend after breaking the Descending Trendline. Now, it is on a corrective movement of the previous trend, so we are waiting for a consolidation to end to place long entries. If you want to trade the corrective movement, the best scenario would be to go to a lower timeframe like 30m or 1h and find the correct setup. The main target of the correction it is the confluence zone between the Support Zone, the Descending Trendline, and the minor Ascending Channel.
DAILY CHART ANALYSIS:
As we explained on the Daily Chart, price is on a bullish trend after breaking the Descending Trendline. Now, it is on a corrective movement of the previous trend, so we are waiting for a consolidation to end to place long entries. If you want to trade the corrective movement, the best scenario would be to go to a lower timeframe like 30m or 1h and find the correct setup. The main target of the correction it is the confluence zone between the Support Zone, the Descending Trendline, and the minor Ascending Channel.
DAILY CHART ANALYSIS:
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