On the current GBPUSD chart, price action is exhibiting a bullish market structure with consistent higher highs and higher lows on the 4H and 1H timeframes. Price recently broke above a key internal range high, signaling strength from buyers and a likely continuation of the current trend.
Key Technical Points:
Structure Shift: After clearing previous liquidity above 1.2810, the pair established a new bullish internal structure, indicating strong momentum from institutional participants.
Demand Retests: We observed multiple retests of higher timeframe demand zones, which held cleanly with impulsive bullish reaction, confirming the presence of buy-side interest.
Volume and Momentum: Volume increased significantly on the last bullish leg, suggesting participation aligned with the directional move.
Trendline Support: A dynamic trendline from early June lows has acted as support and continues to guide the trend upward.
Key Technical Points:
Structure Shift: After clearing previous liquidity above 1.2810, the pair established a new bullish internal structure, indicating strong momentum from institutional participants.
Demand Retests: We observed multiple retests of higher timeframe demand zones, which held cleanly with impulsive bullish reaction, confirming the presence of buy-side interest.
Volume and Momentum: Volume increased significantly on the last bullish leg, suggesting participation aligned with the directional move.
Trendline Support: A dynamic trendline from early June lows has acted as support and continues to guide the trend upward.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.