The GBP/USD pair is currently in a corrective movement with signs indicating a potential short-term bullish reversal, as evidenced by the formation of a Bullish Gartley pattern near the 1.2700 support. This key support level is likely to attract buyers, given the confluence of technical factors suggesting a possible recovery from this point.
Technical Indicators TDI Divergence: Shows bullish divergence, suggesting that the selling momentum may be waning, reinforcing the potential for a rebound from current levels. Key Levels: Main Support: 1.2700, where the Bullish Gartley pattern is validated, aligning with a demand zone. Resistance: 1.3000 and 1.3048 are significant resistance levels that could serve as targets if the recovery unfolds.
Buy at Support Entry: 1.2700 Stop Loss (SL): 1.2600 Take Profit (TP): 1.3010 Risk-Reward Ratio: 3:1 Rationale: The Bullish Gartley formation and bullish divergence signal that this support offers a strategic entry point for a long position. This strategy leverages the expected rebound from support, with relatively controlled risk and a high potential reward.
The GBP/USD pair is at a critical level with technical signals supporting the 1.2700 support and a harmonic pattern favoring a recovery. The primary strategy here is a buy at support, aiming for high returns. Selling at resistance upon rejection can also be considered, though it carries a higher risk. Monitoring price action and indicators near these levels, particularly on lower timeframes, will be essential for position adjustments.
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.