FX.co ★ Sajidctn | GBP/USD

*Technical Analysis of GBPUSD Chart: Support, Resistance, Volume, RSI, and Risk Management* Lets break down this GBPUSD hourly chart like a pro! Were gonna dive into support and resistance levels, volume indicator vibes, RSI signals, and how to manage risk like a boss. Chart Overview The chart shows GBPUSD on an hourly timeframe (H1) from Nov 27 to Dec 4. Price actions been bullish AF , climbing from around 1.3220 to 1.3331. Weve got moving averages (red, blue, white lines) showing the trends got some momentum. Support and Resistance Levels *Support:* Around 1.3220-1.3240 looks like a solid zone. Price bounced off this area before pushing higher. *Resistance:* Current price (1.3331) is near a recent high. Next resistance could be around 1.3380-1.3420 based on the upward trend. Volume Indicator Volumes been decent with spikes on big moves. On Dec 3, volume spiked when price broke higher, showing buying interest. Lower volumes on Dec 4 might mean consolidation or a pause before the next move. RSI (Relative Strength Index) RSI(14) is at 49.93, hovering around the midline (50). This suggests the markets neither super overbought nor oversold. If RSI goes above 70, wed be looking at overbought territory; below 30, oversold. Right now, RSIs neutral, aligning with the sideways-ish move in price. Predicting the Market Based on: *Support/Resistance:* Price might test 1.3380 next if bulls keep pushing. *Volume:* Recent lower volumes might mean a pause or consolidation. *RSI:* Neutral RSI suggests no extreme signals for a big reversal.

Risk Management Risk management is KEY when trading: *Stop Losses:* Set stops below key support (like 1.3220) if youre long. *Position Sizing:* Dont risk more than 1-2% of your account on a trade. *Take Profits:* Target resistances like 1.3380 for profits. Summary GBPUSDs on an uptrend with support at 1.3220-1.3240. Volume and RSI dont scream "big move" right now. Manage risk tight watch support/resistance, and youll be golden.