1.✨Eagle Eye: Based on the multi-year double-bottom bear trap formation and bullish momentum on the yearly chart, it appears that the multi-year downtrend is over. We will have a clearer picture once the 2023 candle is formed with some bullish momentum. 2.📆Monthly: While there is a clear downtrend, there are solid reasons to believe that the bulls are in control at this level. There is a consolidation here that has swept all the downside liquidity, and now the price has reached the monthly upside fvg area, which is a decision maker level for the future direction of this pair. The key level for price is 1.2851. 3.📅Weekly: There is a clear bullish structure with a proper Bullish Order Block (BOB) trend, which is supportive and without any weakness. Another 250 point area is open. 4.🕛Daily: Bulls are in power with a buildup formation ready to break another resistance. There is a proper inverted head and shoulder pattern, indicating a bullish move is expected.
😇7 Dimension Analysis 🟢 Analysis Time Frame: Daily
Price Structure: Bullish Pattern Candle Chart: A triple top upside breakout has been achieved, and now the market is making a strong bullish move as expected. Volume: Every time a massive volume appears on the bullish candle, it indicates that buyers are much stronger than sellers. Momentum UNCONVENTIONAL RSI: The RSI has shifted from a sideways to a super bullish zone, which is excellent news. Volatility Measure Bollinger Bands: The market is walking on the band, indicating that volatility is starting to increase. Strength ADX: Bullish Sentiment ROC: GBP is stronger than USD in terms of the monthly rate of change period 1. ✔️ Entry Time Frame: D1 12. Entry TF Structure: Bullish
Entry Move: We will enter at the open. Support Resistance Base: The buildup base is supportive. FIB: No need. ☑️ Final Comments: We will buy on a breakout or reversal. 16. 💡Decision: Buy Only
🚀Entry: 1.2630 ✋Stop Loss: 1.2550 🎯Take Profit: 1.2866 😊Risk-to-Reward Ratio: 1 to 2 🕛 Expected Duration: 3 days