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Daily Forex Analysis | GBP|USD Currency Pair | December 29, 2019

Daily Forex Analysis | GBP|USD Currency Pair | December 29, 2019 Hello forex traders, & our dear subscribers, welcome again, to our Daily forex analysis channel.
Today in our video, we will discuss about GBP USD currency pair.
First, we will analyze GBP USD chart, using harmonic pattern, & then, we will justify that analysis, using our trend detection methodology.
In our previous video of GBP USD analysis, we predicted that, price has bullish trend, & it will move around 300-600 pips up.
And this analysis is based on this harmonic pattern, & also with our trend detection methodology.
Now, let us check trend direction, & strength using our trend detection methodology.
In hour 4 chart, we clearly see that price has started an uptrend.
Now, let’s check hour 1 chart, & here we see that price has strong uptrend, & it started a while ago.
And, in 30 minute chart, we can see that, price also has uptrend.
Therefore, by looking at all these timeframes, we can assume that, price has uptrend, & it’s very much still active.
So, our suggestion is, if you have already opened a buy trade, or long trade, then you should close your trade, if price reach below 1.2998 level.
However, if you haven’t open any trade yet, then you should open a buy trade, or long trade, and your stop loss should be around 65-85 pips.
And, your 1st profit target should be around 150-200 pips. And, your 2nd target could be around 250-350 pips, based on market condition & trend strength.
That’s for today, don’t forget to subscribe our channel, & click on the bell button for notification for daily analysis. If you have any question, feel free to ask in comment section. See you tomorrow.

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