Hello friends! Today I will give you a review of the GBPUSD pair. First, let's take a look at the pair's 4H chart.

Hello friends! Today I will give you a review of the GBPUSD pair. First, let’s take a look at the chart :

 

GBPUSD

 

The picture above is the GBPUSD pair on 4H chart. The price is moving following the strong uptrend and the price is above the 200EMA line. I drew the trend line and waited for the price to move near the trend line.

The price moved down near the 200EMA line (around 1.5450 level) and it was near the trend line. I was looking to buy this pair (buy on the dips).

Another signal to strengthen our analysis is that there is hidden bullish divergence, which always performs in an uptrend movement as a continuation of the trend movement.

In my opinion, the price will continue to move higher to follow the uptrend. I already entered the trade, I put my stop loss just below the trend line and my profit target is near the latest high.
This trend line acts as a strong support level so we can expect the price to bounce up and continue moving higher.

Another possibility is that the price could break the trend line and resume its downtrend movement. That is why we should put the stop loss below the trend line.

Happy trading!
See you later!

RICO FY