On the GBPUSD H4 chart, there are multiple reasons showing there will be a bullish move soon.
- There is a bullish 3-Drives pattern. Price should move higher to at least the 38.2% Fibonacci level.
- There is a trendline which has acted as resistance and tested multiple times. It is likely to attract price and be tested again.
- Stochastic with default settings indicates an oversold condition.
Price is currently 1.2356
The 38.2 minimum target is at the 1.2400 level. Which is also a good psychological level.
So this can be a fast profit of
44 pips minimum.
