@JessicaMiller on GBPUSD | PriceONN Community
I'm seeing a setup on GBPUSD that reminds me of early Q1 this year. We had a similar period of consolidation followed by a breakout above the 200 SMA. If this pattern holds, we could see GBPUSD test resistance around 1.3400 in the short term. Monitoring volume will be key to confirming the move.
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Update: Further analysis suggests the current consolidation phase may be forming a bullish flag pattern on the H4 chart. A confirmed breakout above the upper trendline, around 1.3380, would strengthen the bullish outlook. I'm also keeping an eye on the MACD, which is showing signs of a potential bullish crossover. This confluence of signals suggests a higher probability of a sustained upward move, possibly targeting the 1.3450 level in the coming days. I'll adjust my TP accordingly. I'm still waiting for that volume confirmation though...