GBPUSD may rise from the Bullish Order Block

27 нояб.

GBPUSD May Rise from the Bullish Order Block

Bullish Order Block: 1.25710 - 1.25671
Resistance Zone: 1.26130 - 1.26082

GBPUSD is showing potential for an upward move from the identified Bullish Order Block between 1.25710 and 1.25671. The price is currently consolidating between a support trendline and a resistance zone, indicating indecision in the market. If the price breaks above the resistance zone at 1.26130, we should wait for a retest to confirm the breakout and consider taking a long entry around that level.

Alternatively, if the price retraces to touch the bullish order block, it represents an excellent opportunity for a long position, as this area has a high probability of triggering a reversal. The combination of Smart Money Concepts (SMC) and technical patterns such as consolidation and breakout setups makes this trade idea robust.

FIBONACCI RETRACEMENT also given the confirmation from its major support level between 0.5 and 0.618. the order block is perfectly at the retracement level.

Let’s observe how the price reacts at these key levels. Proper risk management is crucial to ensure long-term success. Patience and discipline will be the keys to capitalizing on this opportunity!

GBPUSD / LONG / M15
LOT :- 0.3
Entry Price :- 1.25708
Take Profit :- 1.25927
Stop Loss :- 1.25489