The GBPUSD pair on the 1-hour timeframe is currently exhibiting a mature bullish trend, characterized by a series of consistent higher highs and higher lows. The breach of significant resistance levels signals that buyers are regaining control of the market, pushing the price into a phase of more stable strengthening. This scenario reflects a growing buying sentiment, aligning well with technical structures that confirm a bullish direction.
At present, GBPUSD is trading in the lower section of a bullish channel, a stage that frequently serves as an ideal point for further rallies. The zigzag pattern forming new lows and the CCI indicator moving back from oversold territory provide additional support that buying pressure is set to rise once again. Given these combined signals, the potential for further strengthening is wide open, as long as the HH–HL pattern remains intact and buyers can uphold the established bullish momentum.
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On the 15-minute timeframe, GBPUSD is also showing a positive response after rebounding from the Bollinger Bands area. The sharply rising CCI from the oversold zone strengthens the likelihood of a short-term increase, while price movements remain neatly within the bullish channel, thus maintaining trend stability. This technical support offers GBPUSD the opportunity to strengthen again and possibly test the nearest resistance around the 1.33130 level.
Technical Reference: buy above 1.32195
Potential Take Profit 1: 1.32945
Potential Take Profit 2: 1.33945
Potential Stop Loss 1: 1.32400
Potential Stop Loss 2: 1.32195
