British Pound / U.S. Dollar
Updated

GBP/USD chart (1H timeframe)

619
GBP/USD chart (1H timeframe), potential breakout from a descending channel, supported by the Ichimoku Cloud and marked target levels.

📈 Current Analysis Highlights:

Price is near the lower end of the descending channel.

A bullish reversal setup is forming.
I'm drawn two Target Points indicating a breakout and continuation.



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🎯 Target Levels (as per your chart):

1. First Target Point:
🔹 1.36200 — This is the initial resistance level or TP1 if price breaks above the Ichimoku cloud and mid-channel resistance.


2. Final Target Point:
🔹 1.36800 — This is the upper resistance zone and aligns with the top of the descending channel, a likely TP2 area if bullish momentum continues.




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✅ Summary:

Entry idea: After confirmation of a breakout above the cloud (~1.35600).

TP1: 1.36200

TP2: 1.36800


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