GBP/USD: buyers waiting for an upside breakout

EagleFX Team EagleFX

GBP/USD started its trading day with a bullish breakout on the H1 chart. Last trading day’s daily candle came out as a bullish inside bar. Thus, the pair may make a bullish move up if the price makes a breakout at today’s highest high. Let us have a look at the GBP/USD H1 chart.

The price after having a rejection at around the level of 1.3000 has made a bearish move. It may find its support at around the level of 1.2960. As of writing, the current candle has been bullish. If the price keeps pushing towards the North and makes a breakout at the level of 1.3000, buying the pair may get the buyers some green pips.

Trade Summary:

Entry: Buy above 1.3000

Stop Loss: Below 1.2960

Take Profit 1: 1.3018

Take Profit 2: 1.3033

Take Profit 3: 1.3053

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Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

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