GBP/USD Breakout Towards D H5

Analyst, Full-Time Trader • Feb 2, 2022 at 7:29 AM EST

The price is trying to break above the green highlighted area which represents the bounce zone. Bulls need to close above 1.3545 in order to continue further up.

selective focus photography of rolled 5 banknote

Photo by Philip Veater on Unsplash

The GBP/USD has formed a breakout zone and we should see the price moving up.

The price is trying to break above the green highlighted area which represents the bounce zone. Bulls need to close above 1.3545 in order to continue further up. The first target is 1.3571 camarilla pivot and the final targets are 1.3598 and 1.3613. The GBP/USD is bullish and continuation of uptrend is expected.

(Click on image to enlarge)

The Analysis has been done with the Black Widow system.

Disclaimer:

The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis.

Individuals should consult with their personal financial advisors before engaging in any trading activities.

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