GBP/USD_2nd week of Feb 2021

The price indicate a bullish momentum from:

1. Weekly TF = The long wick candle rejecting the support trendline marked at this TF

2. Daily TF = The long wick candle rejecting the support trendline followed by strong bullish candle indicate the buyers are in full control of the movement

3. 4H TF = The price rejecting current resistant level and possibly heading for retracement period. 50% of fibo level is what im looking for entry position plus the level is within my previous support area

* its best to look for the price action before we take any position with proper RR and lot sizes. The chart is solely based on my observation from a technical perspectives. Any news or fundamental impacting the movement of market is beyond of my comprehension