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Maverick45

GBPUSD H4 - New Trendline formation + Bullish Flag

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Maverick45  
FX:GBPUSD   British Pound / U.S. Dollar
Support and Resistance Trend Lines Moving Averages GBPUSD gbpusdlong 4hr 4h
7
0
supportandresistance trendline movingaverage gbpusd gbpusdlong 4hr 4h
GBPUSD
Price is currently setting up a new trendline and is expected to retrace back to this line at around 1.22 which is also the 38 Fib, Weekly Price Pivot and 4HR 55EMA, before continuing upwards to weekly R2 at 1.238. Expecting a triangle formation with initial resistance at Weekly R2/Daily R1.

Long at 1.22 with an initial TP at 1.245.
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