GBPUSD has been bullish on the H4 chart. The price has been heading towards the North by obeying an up trending trend line. Moreover, an H4 bullish reversal candle was produced yesterday on a level where the price made a strong breakout earlier. This means another upside breakout will attract the H4 traders to go long on the pair again. Let us have a look at the H4 GBPUSD chart.
This is another trade idea generated by the Elite Swing Trader.
The price had a bounce three times on the up trending trend line. The level of 1.27070 got breached by a strong H4 bullish candle earlier and one of the H4 candle had a bounce on the level after the breakout. The H4 chart suggests that the price had a rejection at the level of 1.27650 which is the level of highest high of the bullish wave. If the level gets breached by an H1 candle, then the price will head towards the level of 1.28500 with a good pace. Let us have a look at the summary of the trade…
- Buy Stop Order: 1.27663
- Stop Loss: 1.27209
- Take Profit: 1.28500
The daily price action suggests that there is enough space for the price to travel towards the North. This means GBPUSD buyers may love to go long as far as the daily chart is concerned too. Going long is the best option for the H4 and intraday traders. If the daily traders add with them, then the GBPUSD might remain bullish in the coming days.
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