FX.co ★ dusty24 | GBP/USD

GBPUSD Good mood to everyone! Let's consider the market situation. The linear regression channel on the M15 chart is sloping upwards, which is a good indicator of buyer activity. It is important to note that the market is holding above the level of 1.32346, indicating growth potential. Based on technical analysis, we have an interesting situation. From the lower boundary of the channel, there is an opportunity to look for a buying entry point with the target of working towards the upper part of the channel at 1.33026. However, it is worth remembering that after reaching the target, buyer activity may decrease, which will be evident in the market's slowing movement. This happens because volatility is selected on the M15 chart, and a pullback is likely to follow. If you are planning to enter sales, it is possible to do so, but preferably with high confidence and setting a stop-loss. It should be understood that entering sales against the current upward trend can be risky. However, a more preferable option may be to wait for a correction to the lower boundary of the channel before considering possible sales. After the correction, it is worth considering the possibility of entering buys. Buying positions may have a higher potential for profit-taking than selling positions, considering the current trend on the chart.

On the chart reflecting hourly dynamics, the situation within the linear regression appears quite complex. On one hand, the direction of the channel suggests bearish sentiment, hinting at a possible decline. But it is important to note that buyers show persistence and strength. The fact that the market is trading above the level of 1.32626, which acts as the upper boundary of this channel, is a sign of this. Based on the indications of both channels, it is logical to conclude that bulls are starting to dominate the initiative. On the H1 chart, one can assume the development of an upward trend towards the level of 1.34087. This level may pose certain challenges for the bulls, being a point where the market may lose momentum and start a correction. It may be advisable to consider taking profits upon reaching the upper boundary of the M15 channel and the level of 1.34087. Surpassing the level of 1.34087 could act as an impulse for growth and change the trend direction on the H1 chart, thereby giving priority to buyer activity. However, if the market returns below the level of 1.32626, it strengthens the influence of sellers and emphasizes their advantage.