FX.co ★ KHALISA | GBP/USD

Good afternoon. The analysis you've shared is quite excellent and provides a very helpful overview for other traders in developing a more mature and structured trading plan. I'd also like to share my perspective specifically on the GBPUSD pair, using a trend-following strategy that combines Moving Averages as a trend direction filter and MACD as momentum confirmation. I hope this insight proves useful as an additional reference. Here's the complete analysis for consideration in the coming sessions.

On a daily timeframe, the current price is indeed undergoing a consolidation phase after experiencing significant gains. However, if we trace the initial movement last week, the price has experienced solid gains from the valley area at 1.3170, which is a strong support level and an area of daily demand. From there, buyers managed to push the price up significantly, eventually closing above the middle Bollinger Band and above the 50-day Exponential Moving Average, indicating a structurally bullish trend, although in recent days, movement has remained limited between the 1.3330 support level and the 1.3430 resistance area. The price has fluctuated within this area several times but has not yet broken through either area, so it is highly likely that the price will remain stuck within this range for a while. The MACD histogram shows clear buyer dominance and is consistently moving above the signal line and above the zero line, confirming that buying momentum is well maintained. Zooming out to the H4 timeframe further reveals the consolidation area's boundaries, clearly defined between the support level of 1.3340 and the resistance level of 1.3430. The Bollinger Bands on this timeframe are still trending upward, and the price remains above the middle band and above the 50-day moving average (EMA), a strong indication that the uptrend is not over, despite the visual range. Furthermore, the MACD (Ocean Moving Average) on the H4 timeframe has recently broken out above the zero line and consistently remained above the signal line, indicating that buyer dominance remains very pronounced and buying pressure has not shown any significant weakening. This combination of signals confirms that any downward correction is still corrective and has the potential to become an accumulation opportunity for buyers as long as the dynamic support remains intact. The analysis above, along with several signals generated by the indicators I use, all indicate that the trend remains in a healthy bullish phase despite the consolidation. No valid reversal signals have emerged, either from price action or momentum perspective, so the primary bias remains to the upside. Therefore, the most rational option for developing my trading plan is to remain focused on the buy option. The recommended plan is to wait for the price to retest the support area around 1.3350 to enter a buy position, with a measured stop-loss at 1.3300 to anticipate a false breakout, and a profit target at 1.3460, which is a psychological resistance area and close to the upper daily Bollinger Band, thus creating a proportional risk-reward ratio.