GBP/USD Analysis

[Hexxler]

Yesterday, the GBP/USD traded lower and closed the day in the red zone around the price of 1.2295. Today, the pair also fell slightly, dropping to 1.2275. On the hourly chart, GBP/USD trades above the moving average line MA (200) H1 (1.2215). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the north direction in trading, and while the pair remains above MA 200 H1, you may need to look for entry points to buy at the end of the correction.

• Resistance levels are at 1.2330, 1.2395, and 1.2425.
• Support levels are at 1.2260, 1.2185, and 1.2155.

The main scenario is probably a resumption of growth to 1.2330 (the high of the European session on November 7).

The alternative scenario implies a final consolidation below the MA 200 H1 level with a subsequent decline to 1.2070 (Oct 26 low).

 

[Fin_Trader]

I want to try to keep my own journal to search for a trading strategy.
Goals:
1) to identify errors - both in the trading system and in inaccuracies in following the trading system;
2) develop ways to avoid the same mistakes in the future.
I often trade the EUR/USD pair, but I also prefer GBP/USD, USD/JPY, USD/CHF. The GBP/USD pair is more active than the EUR/USD. The prospects for movement are better.

 

[Fin_Trader]

There is an upward trend on the GBPUSD pair on the H4 timeframe. The price is trying to break through the resistance zone, which has been holding the price back from further upward movement since 24.02.2025. In case of a breakout and consolidation of the price above this zone, the next target for a bullish movement may be the 1.28 mark. In case of a false breakout and a downward rebound, the target for a downward movement may be the support level of 1.2635

 

[Fin_Trader]

The GBPUSD pair shows a general upward trend. However, according to the situation on the H1 TF, the price has approached the resistance level of 1.2908, which it has not yet been able to break through and is trying to rebound downwards from. In case of updating today's price low at 1.2867, the first target for further downward price movement may be the support level of 1.2804. In case of a breakout and consolidation of the price above the resistance level of 1.2908, the target for further price movement towards the trend may be the resistance level of 1.3046.

 

[Fin_Trader]

For the GBPUSD pair, the price broke through the resistance level of 1.2900 and consolidated above it. This level is now a support level. The next target for a further upward movement may be the resistance level of 1.3000.

 

[Fin_Trader]

The overall trend for the GBPUSD pair is still upward. On the H1 timeframe, the price made a false breakout of the resistance level of 1.2945 yesterday, but today there is still no hope of breaking it. I am considering the option of a downward price correction to test the local line of the ascending trend with a subsequent rebound from it upwards with the target of the resistance level of 1.3000.