The GBP/USD is forming a new uptrend on the MN time frame. We will analyze this trend and also analyze the W1 time frame for clear breakout points and price targets.
Traders can set an audible price alert at 1.2845 on this pair, as annotated on the W1 time frame and the yellow line. The next major resistance past there isat 1.3640. When trading with the higher time frames you are looking for lots of pips, much more than forex traders usually try to capture.
When the price alert hits check for a verification buy signal using The Forex Heatmap® forex heatmap. The next resistance area we see is at 1.3640, but there is additional upaide past there. so this pair could move much higher. The red and green trend indicators are 5/12 exponential moving averages. For forex market analysis we use multiple time frame analysis of trends, by individual currency groups. We emphasize the larger trends. Multiple time frame analysis is the most thorough analysis technique for forex traders on any currency pair.
GBP/USD MN Time Frame Analysis
GBP/USD MN Time Frame Analysis