LONG - GBPUSD - 1HR (03/12/24)
My analysis on the GBPUSD pair is:
1. on a daily chart, we have a bullish trend
2. on a hourly chart, we have a bullish trend
3. it has almost 50% retracement, that said, means a good pullback
4. RSI is at 20 level. It means it is oversold b the traders
5. Hour conformation candle is confirm
6. risk to reward is more than 1:1
7. near major support.
So i conclude the seven confluence is perfect.
My analysis on the GBPUSD pair is:
1. on a daily chart, we have a bullish trend
2. on a hourly chart, we have a bullish trend
3. it has almost 50% retracement, that said, means a good pullback
4. RSI is at 20 level. It means it is oversold b the traders
5. Hour conformation candle is confirm
6. risk to reward is more than 1:1
7. near major support.
So i conclude the seven confluence is perfect.