Although I was expecting a rise for GBPUSD in my last analysis, price could not break the resistance level and got rejected by it and continued dropping and made a lower low.
As you see in the chart, price was bouncing in the descending channel, and currently, it has broken the channel to the upside and closed the last 1H candle above the channel.
There is a resistance level at 1.3664 which has stopped price to grow for now.
We should wait for price to pull back or break the yellow resistance zone with a bullish confirmation signal in m15 to enter long with a TP at 1.3690 and in the case of an upside breakout on this level, the next target would be around 1.3750
As you see in the chart, price was bouncing in the descending channel, and currently, it has broken the channel to the upside and closed the last 1H candle above the channel.
There is a resistance level at 1.3664 which has stopped price to grow for now.
We should wait for price to pull back or break the yellow resistance zone with a bullish confirmation signal in m15 to enter long with a TP at 1.3690 and in the case of an upside breakout on this level, the next target would be around 1.3750
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