GBPUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This is a GBP/USD 1-hour chart published on TradingView. Here’s what it suggests:

1. Uptrend and Pullback: The price was in an upward channel but recently pulled back.


2. Support Zone (Blue Box): The highlighted blue area represents a potential support zone where price may bounce.


3. Resistance Level (1.26274): The red line above acts as resistance, where price may struggle to break.


4. Projected Move (Black & Blue Arrows):

The blue arrow suggests a possible bounce from support, leading to a break of resistance.

The black arrow indicates a bullish breakout continuation if resistance is broken.




This analysis suggests a long trade setup if GBP/USD respects the support and breaks resistance. Do you plan to trade based on this?