GBP/USD: bullish channel flag

7 ก.ย. 2022

In this analysis, I make an update of GBP/USD after that I was shortin from $1.1574 USD and I closed up my short position recently at $1.1528 USD, where I get 43 pips in profit or 4.33% of earned. Ok, what we look now it's a break-out of market structure in H1 timeframe. we was shorting and the minimum price was $1.1407 USD. Also, I believe that after we forming this bulish envolving pattern into this bullish channel flag, that was a good time to get profit and closed up automatically my short. But I know that I can't to still everyday in my chart 24/7, but I made a good job put my break even, but at least as I'm making an analysis of this par, I update this technical analysis.



Now, I found out that GBP/USD forming a bullish divergence in the RSI forming a lower high and price action lower low. That mean that trend will chhange, as now, we see a clearly break-out of this bullish channel flag.

Now I put my buy order limit at $1.1520 USD, Stop Loss to $1.1475 USD and take profit toward $1.1628 USD.

Also that I don't comment, in H4 it's appear that GBP/USD it's into this bearish channel and has a forecast that want to reach $1.1630 USD.

i'm longing GBP.USD. But not bad this short posiiton, and remember we can't to know what will happen with GBP/USD in the future. But we can to take the resource like fundamental analysis and technical analysis to take better decision in this market.

I hope that this idea support you!!!

Good luck!!!