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Daily Market Analytics - Forex
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[QUOTE="FXOpen Trader, post: 335048, member: 104606"] [B][SIZE=18px]GBPUSD Technical Analysis – 08th FEB, 2024 GBPUSD – Aroon indicator bullish trend[/SIZE][/B] [IMG]https://i.imgur.com/DBFHNJ1.png[/IMG] GBPUSD has resumed its Uptrend from its lows of 1.2518 on 05th Feb in the 1-hourly timeframe. The Aroon indicator is giving a bullish trend formation with immediate targets of 1.2660 after which we can see some consolidation coming into the markets. We can see the formation of Bullish trend reversal pattern with the Moving Average 20, MA20 in the 4-hourly timeframe. The prices of GBPUSD are ranging near support of channel in the 15-minutes timeframe. Most of the moving averages are giving a bullish signal at the current market levels of 1.2627. GBPUSD is now trading above its 100-hour SMA simple moving average and below its 200-hour SMA simple moving average. • Pound bullish reversal seen above the 1.2518 mark. • Short-term range appears to be mildly bullish. • GBPUSD continues to remain above the 1.2620 levels. • Average true range ATR is indicating less market volatility. GBPUSD is now trading just below its Pivot levels of 1.2631 and is moving into a Mild Bullish Channel. The price of GBPUSD has already crossed its Classic resistance levels of 1.2628 and is inching closer towards the 1.2660 levels. [I][B]Note:[/B] 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 Newbie traders and they should know about the risks of Forex trading.[/I] [B][URL='https://fxopen.com/blog/en/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve']For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]
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