The GBPUSD currency pair continues to present upward momentum on the 1-hour time frame, characterized by a clear dominance of buyers reflected in the consistent formation of an uptrend. The price is moving steadily within this rising structure, showcasing sustained buying interest and maintaining the prospect for further strengthening, provided there are no significant changes in the price dynamics.
From a technical perspective, the upward slope of the Moving Average along with the ZigZag indicator continuously forming an uptrend serves as primary confirmation of a bullish trajectory. Furthermore, the CCI indicator, which is beginning to rise from the oversold territory, supports the potential continuation of the upward trend, thereby positioning GBPUSD to further ascend towards higher levels.
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On the 15-minute time frame, the GBPUSD is still showing favorable upward opportunities, bolstered by the Moving Average positioning below the price movements and the ZigZag indicator maintaining a bullish structure. Additionally, the CCI’s sharp rise from the oversold region enhances buying momentum, suggesting that GBPUSD could continue its ascent to test the resistance area at 1.34075.
Technical Reference: buy while above 1.33365
Potential Take Profit 1: 1.33945
Potential Take Profit 2: 1.34075
Potential Stop Loss 1: 1.33505
Potential Stop Loss 2: 1.33365
