Suggestion Daily Market Analytics - Forex

GBPUSD Technical Analysis – 26th FEB, 2024

GBPUSD – Aroon Indicator Bullish Trend



GBPUSD started his week into a consolidation channel after which we can see some upside moves touching a high of 1.2698 in the US Trading session.
Now again the prices of Pound have entered into a consolidation wave which is expected to last for around 12 hrs.

We can see the formation of Aroon indicator Bullish Trend in the 2-hourly timeframe.
The prices of GBPUSD are ranging near the support of channel in the 15-minutes timeframe.

We can see the formation of Bullish price crossover pattern with the Moving Average MA50 in the daily timeframe.
GBPUSD is now trading above its 100-hour SMA and below its 200-hour SMA simple moving average.

• Pound bullish reversal seen above the 1.2657 mark.
• Short-term range appears to be Mild Bullish.
• GBPUSD continues to remain above the 1.2650 levels.
• Average true range ATR is indicating high market volatility.

GBPUSD is now trading below its Pivot levels of 1.2674 and is moving into a Bullish channel.
The price of GBPUSD is aiming to cross its Classic resistance levels of 1.2677 and the next target is located at 1.2702 which is a 38.2% Retracement From 13 Week High.

Note: This Analytics is created by me and is based on my own personal Forex trading experience of 10 years. I am using my trading experience to help Experienced and Newbie traders and they should know about the risks of Forex trading.

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