FX.co ★ dusty24 | GBP/USD

GBPUSDHello traders! Buyer strength is expressed in the linear regression channel on the M15 chart, which is rising. The steeper the channel's slope, the more pronounced the buyer activity. Bulls are doing everything possible to reach their target of 1.36063. To enter the market on a pullback, you need to catch the moment when the market is near or at 1.35765 and then buy. Trading within the channel is simple: buy from the lower edge and sell from the upper edge, but going against the trend is not advisable. Therefore, after reaching the target, I try to wait for a pullback to enter again along the rising channel. Movement without stops at 1.35765 indicates the seller's pressure, who has decided to push downwards; at this point, it is necessary to wait with purchases and reassess the situation.

On the main H1 chart, which is the main trend indicator for me, I observe an ascending linear regression channel. Combining the readings with the M15 chart, the priority of buyers is evident. Therefore, as mentioned earlier, I will consider buying. Based on the H1 timeframe, it's better to enter from the lows at 1.35332. I plan the rise towards the upper channel boundary at 1.36080. The target for the rise to the upper boundary of the H1 channel will be the breakout of the level 1.36063, which, with strong buyers, should not hold the market back but rather bounce it downwards. A close above it will indicate bullish activity. The rise will start to fade at 1.36080 with subsequent downward corrective movement, indicating the presence of sellers. If desired, one can try to sell, but this goes against the trend, so all consequences should be taken into account.