GBP/USD Analysis: Buy Opportunity Emerging
In the attached chart, we observe the GBP/USD pair forming a classic ABC corrective pattern. The price action has completed wave B, and the pair is now poised for a bullish reversal towards wave C. The price recently tested a significant support level around 1.2650, which aligns with previous resistance turned support, indicating strong buying interest at this level.
Key resistance levels to watch include 1.2820 and 1.2865, with a potential target for wave C around 1.3190, where the previous high is located. The risk-to-reward ratio for this setup is favorable, making this a good time to consider a buy position. Keep an eye on the market structure and price action for confirmation of the upward move.
Key resistance levels to watch include 1.2820 and 1.2865, with a potential target for wave C around 1.3190, where the previous high is located. The risk-to-reward ratio for this setup is favorable, making this a good time to consider a buy position. Keep an eye on the market structure and price action for confirmation of the upward move.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.