FX.co ★ Saddique93ml | USD/CHF

According to my analysis of the GBP/USD chart, the pair is showing a mix of bullish and bearish signals. Here's a breakdown of the key levels and trading strategy: Price Action & Trend The chart shows a recent uptrend, with the price moving above the 1.33643 resistance level. However, the price is now facing resistance around 1.33810, which could lead to a pullback or consolidation. Key Support & Resistance Levels 1. *Resistance*: Primary resistance at *1.33810* – the recent high. Secondary resistance at *1.3400* – a psychological level. 2. *Support*: Immediate support at *1.33643* – the broken resistance level. Stronger support at *1.3330* – the previous support zone. Technical Indicators *RSI (14)*: The Relative Strength Index is around 55, indicating a neutral trend. *Moving Averages*: The price is above the 50-period MA, indicating a bullish bias. Trading Strategy 1. *Long Trade*: Buy above 1.33810, targeting 1.3400 and 1.3420. 2. *Short Trade*: Sell below 1.33643, targeting 1.3330 and 1.3300. Risk Management *Position Sizing*: Limit each trade to 1-2% of account equity. *Stop-Loss Placement*: Set stops just beyond key levels (e.g., below 1.3330 for longs or above 1.33810 for shorts). *Risk-Reward Ratio*: Aim for at least 1:2. Trading Discipline *Confirmation*: Wait for clear candle closures beyond support/resistance before entering trades. *Journaling*: Record each trade's rationale, entry/exit points, and outcome to refine the strategy. *Emotional Control*: Stick to the predefined plan, ignoring market noise. Actionable Summary Monitor the price reaction at 1.33810; a break above could lead to further gains, while a rejection might trigger a pullback to 1.33643. Adjust position size and stop-loss accordingly. According to my analysis of the GBP/USD chart, the pair is showing a mix of bullish and bearish signals. Heres a breakdown of the key levels and trading strategy: Price Action & Trend The chart shows a recent uptrend, with the price moving above the 1.33643 resistance level. However, the price is now facing resistance around 1.33810, which could lead to a pullback or consolidation. Key Support & Resistance Levels 1. *Resistance*: Primary resistance at *1.33810* – the recent high. Secondary resistance at *1.3400* – a psychological level. 2. *Support*: Immediate support at *1.33643* – the broken resistance level. Stronger support at *1.3330* – the previous support zone. Technical Indicators *RSI (14)*: The Relative Strength Index is around 55, indicating a neutral trend. *Moving Averages*: The price is above the 50-period MA, indicating a bullish bias. Trading Strategy 1. *Long Trade*: Buy above 1.33810, targeting 1.3400 and 1.3420. 2. *Short Trade*: Sell below 1.33643, targeting 1.3330 and 1.3300. Risk Management *Position Sizing*: Limit each trade to 1-2% of account equity. *Stop-Loss Placement*: Set stops just beyond key levels (e.g., below 1.3330 for longs or above 1.33810 for shorts). *Risk-Reward Ratio*: Aim for at least 1:2. Trading Discipline *Confirmation*: Wait for clear candle closures beyond support/resistance before entering trades. *Journaling*: Record each trades rationale, entry/exit points, and outcome to refine the strategy. *Emotional Control*: Stick to the predefined plan, ignoring market noise.