When you analyze GBPUSD on the 4 hour chart we came from a bearish trend making lower lows and higher highs. With this in mind we will eventually break that structure and continue on the uptrend move.
There are 2 ways this could play out for the uptrend move
-Seeing that 1.31559 is a major area of support the sellers would have to really push and break this area for them to continue on their trend
-Based on 161.8 Fibonacci expansion my target area for the uptrend move is 1.32633
I will continue to update this analysis if people request it.
Please leave a like and a follow I would really appreciate it.
There are 2 ways this could play out for the uptrend move
-Seeing that 1.31559 is a major area of support the sellers would have to really push and break this area for them to continue on their trend
-Based on 161.8 Fibonacci expansion my target area for the uptrend move is 1.32633
I will continue to update this analysis if people request it.
Please leave a like and a follow I would really appreciate it.