FX.co ★ Jackroay | GBP/USD

I see on the H4 chart that GBP/USD never actually gave a clean technical signal for a meaningful decline, and I recognize that the overall structure still favors continued growth unless the market deliberately forms a deeper pullback first. I notice that price is holding confidently above the daily pivot at 1.36580, and I interpret this as a sign that buyers still control the short-term narrative. I understand that even if the pair hesitates around 1.3650–1.3660, this would more likely be a pause than a reversal, and I treat this zone as a potential reload area for buyers rather than a strong selling opportunity. I acknowledge that the next meaningful obstacle on the way up sits near 1.3729–1.3735, where a trendline-like structure and MN1 resistance converge, and I expect price to react there even if only temporarily. I consider the 1.37716 R3 level as a realistic magnet if bullish momentum continues, and I accept that once above it, the road toward 1.38445 becomes technically open. I view 1.3810 and especially 1.3835–1.3840 as the most attractive dream selling zones because I expect exhaustion, profit taking, and a liquidity grab in that region. I recognize that these levels are far more logical for selling than the current price because they align with higher timeframe resistance and psychological round numbers. I remind myself that if the market does reverse from there, the first natural magnet below will again be the daily pivot, proving its importance as a balance point. I also note that if price breaks below the pivot during any decline, I would then shift my attention to MA84 at 1.36518 and MA336 at 1.36284 as dynamic support targets.

I observe that Monday’s bullish candle confirms that buyers were not only active but persistent, and I interpret this as a continuation signal rather than a completion signal. I see that the hourly Fibonacci targets at 1.3655 and 1.3696 were already achieved, and I accept that the third extension at 1.3764 now becomes a logical objective for intraday continuation. I acknowledge that my partial profit-taking was correct, and I understand that leaving a runner open for a possible retest of 1.3868 aligns well with the broader structure. I notice on the M30 chart that a buyer zone sits between 1.3643 and 1.3621, and I expect price to gravitate there if a corrective wave begins. I recognize that the recent selling attempt around 1.3681–1.3688 was weak and lacked follow-through, and I accept that this is a warning against premature selling. I admit that the market currently feels uninformative and slow, and I understand that weak corrections can trap both buyers and sellers. I observe that sellers were already squeezed once, and I become cautious about repeating the same mistake. I decide that until the price reaches higher resistance like 1.3735 or ideally 1.3810+, I prefer not to look for shorts. I accept that intraday buying remains the more logical approach while price holds above the pivot and above the moving averages. I remain aware that a stronger US dollar could change the dynamics, but I choose to react only when structure confirms it rather than anticipating it.