GBP/USD Long

١٨ يناير ٢٠٢١

As we can all see price has been "trapped" between the 1.37000 (resistance) area and the 1.35400 (support) area for quite some time. Price is currently testing both this support area and the daily bullish trend line that was formed in the past. In addition, price has also created and M formation and it will only be completed if price rejects the trend line and the support at the same time and head up to our target for this trade. We need to be cautious though because price can continue with it's bearish momentum breaking both the trend line and support which will lead to a huge move to the downside.

This was my analysis on GBP/USD and I hope you like it, see you on the next one!