FX.co ★ dusty24 | GBP/USD

Buying Opportunity As Long As It Holds Above Pivot Point 1.3333

Daily Pivot Point Support 3: 1.3166 Support 2: 1.3217 Support 1: 1.3281 Pivot Point : 1.3333 Resistance 1: 1.3397 Resistance 2: 1.3449 Resistance 3: 1.3513 The movement of the GBPUSD currency pair on the H1 time frame still shows a bullish tendency after successfully holding price above the daily Pivot Point area at 1.3333. The price structure is forming a higher high and higher low pattern, indicating that buyers still dominate the market. In addition, price is also moving above the 50 MA and 100 MA, so the short- to medium-term trend remains in positive condition. On the Stochastic (5,3,3) indicator, the main line and signal line are above the 80 level, indicating overbought conditions. However, in a strong trend, overbought conditions are not always a reversal signal, but often indicate that bullish momentum is still continuing. Therefore, traders should wait for confirmation in the form of a mild pullback or a breakout before taking positions in order to obtain a better risk-reward ratio. The Pivot Point area at the 1.3333 level becomes the main support that must be monitored. As long as price holds above that level, the upside potential towards Resistance 1 at 1.3397 remains open. If buying pressure increases and price manages to break through Resistance 1 with a strong candle close, then the next target is at 1.3449 as Resistance 2. If bullish momentum continues, supported by positive sentiment towards the Pound sterling or weakness in the US Dollar, price could even test Resistance 3 at 1.3513. Conversely, if price fails to hold above Pivot Point 1.3333 and falls back below that level, selling pressure is expected to increase. The first downside target is at Support 1 at 1.3281. If that support is broken, price could continue weakening towards 1.3217 as Support 2, and a stronger bearish scenario could take price down to 1.3166 as Support 3. From a risk management perspective, traders are advised not to chase price when the candle has already moved too high. Waiting for a retracement towards the Pivot Point area or a confirmed breakout above Resistance 1 will provide a safer entry opportunity. A stop loss is still necessary below the nearest support area to anticipate sudden reversals due to economic data releases or rising market volatility. Trading Strategy Buy Scenario Buy Entry: 1.3333 – 1.3350 Take Profit 1: 1.3397 Take Profit 2: 1.3449 Take Profit 3: 1.3513 Stop Loss: below 1.3281 Sell Scenario Sell Entry only if price closes below 1.3333 Take Profit 1: 1.3281 Take Profit 2: 1.3217 Take Profit 3: 1.3166 Stop Loss: above 1.3397 In conclusion, the trading bias for GBPUSD on the H1 time frame still tends to be bullish as long as price is able to hold above Pivot Point 1.3333. The main focus for traders is to take advantage of buy opportunities during pullbacks or after a validated breakout. However, if the Pivot Point is broken to the downside, the strategy can shift to sell with gradual targets towards the predetermined support levels. Discipline in applying risk management and waiting for signal confirmation remains the key to dealing with dynamic market conditions.