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Message: [QUOTE="Resolve, post: 236882, member: 29339"] [B][SIZE=5]GBPUSD Technical Analysis – 24th SEP, 2024 GBPUSD – Bullish Trend Reversal Pattern[/SIZE][/B] [img]https://i.imgur.com/jb1uVSh.png[/img] GBPUSD was unable to continue its bearish momentum and after touching a low of 1.3331 the prices started to rise upwards against the United States Dollar today in the European Trading session. We can see Bullish trend reversal: adaptative moving average 20 in the 15-minutes timeframe. The Resistance of channel is broken in the daily timeframe. The CCI indicator is overbought: over 100 in the 4-hourly timeframe. We are now also looking at some saturation levels near to the 1.3390 which also indicates that the prices are expected to enter into a consolidation zone soon. We can see the formation of Doji in the 4-hourly timeframe which indicates a Neutral market. GBPUSD prices are hovering New HIGH record (1 year) in the weekly timeframe. GBPUSD is now trading above its 100-hour SMA and its 200-hour SMA simple moving average. • Pound Bullish reversal seen above the 1.3152 mark. • Short-term range appears to be Strong Bullish. • GBPUSD continues to remain above the 1.3331 levels. • Average true range ATR is indicating High market volatility. GBPUSD is now trading above its Pivot levels of 1.3379 and is moving into a Strong Bullish channel. The price of GBPUSD is above its Classic support levels of 1.3336 and is now moving towards its next target of 1.3398 which is a 1-Month High. We are also looking for the breach of the levels of 1.3409 which is a Price 1 Standard Deviation Resistance. [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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