empty
13.01.2023 09:43 AM
GBPUSD Potential for Bullish Rise | 13th January 2023

This image is no longer relevant

Looking at the H4 chart, my overall bias for GBPUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly continue to break the 1st resistance line at 1.22423, slightly above where the 61.8% Fibonacci line is, before heading towards the 2nd resistance at 1.24465, where the previous swing high is. In an alternate scenario, price could possibly head back down towards the 1st support at 1.21123, where the 23.6% Fibonacci line is

Trading Recommendation

Entry: 1.22469

Reason for Entry: Buy stop entry slightly above the 1st resistance line and to catch the bullish momentum

Take Profit: 1.24465

Reason for Take Profit:

2nd resistance line and liquidity hotspot area

Stop Loss: 1.20843

Reason for Stop Loss:

Recent swing low and slightly below where the 1st support is

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dean Leo
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Although the Lonnie bias remains strong, the appearance of a divergence on the RSI(14) indicates a correction. Tuesday, August 12, 2025.

[USD/CAD] – [Tuesday, August 12, 2025] Despite the appearance of divergence between the RSI(14) and the Lonnie price movements, the golden cross between EMA(50) and the EMA(200) indicates continued strengthening

Arief Makmur 07:52 2025-08-12 UTC+2

There is potential for weakness amidst buyer dominance in GBP/USD. Tuesday, August 12, 2025.

[GBP/USD] – [Tuesday, August 12, 2025] There is potential for a downward correction in Cable today, but as long as it doesn't break through and close below 1.3357, the bias

Arief Makmur 07:51 2025-08-12 UTC+2

EUR/USD Forecast for August 12, 2025

With support from the stock market decline (S&P 500 –0.25%), the euro fell by 25 pips yesterday, breaking below the 1.1632 support level. If today closes below this level

Laurie Bailey 04:53 2025-08-12 UTC+2

GBP/USD Forecast for August 12, 2025

The British pound only managed to pierce the intermediate level of 1.3452 with its upper shadow. The day closed with a 22-pip loss. The Marlin oscillator's signal line is moving

Laurie Bailey 04:53 2025-08-12 UTC+2

USD/JPY Forecast for August 12, 2025

Yesterday, the USD/JPY pair broke above the signal level of 148.03 (the June 23 high). Today's session opened above this level, and at the same time, the Marlin oscillator's signal

Laurie Bailey 04:53 2025-08-12 UTC+2

Trading Signals for ETH/USD (Ethereum) for August 12-15, 2025: sell below $4,205 (200 EMA - 6/8 Murray)

ETH/USD pair is trading around 4,237 within an upward trend channel that has formed since early August and is reaching resistance levels around the 6/8 Murray level. In recent sessions

Dimitrios Zappas 04:26 2025-08-12 UTC+2

XAU/USD. Analysis and Forecast

On Monday, intraday declines pushed gold prices below the 3365 level, but oscillators on the daily chart have not yet started to gain negative momentum. This suggests that the precious

Irina Yanina 19:34 2025-08-11 UTC+2

Trading Signals for EUR/USD for August 11-15, 2025: sell below 1.1650 (200 EMA - 7/8 Murray)

Early in the American session, the euro is trading around 1.1590. After a failed breakout of the downtrend channel, EUR/USD fell below the 21 SMA and below the 7/8 Murray

Dimitrios Zappas 17:54 2025-08-11 UTC+2

Trading Signals for GOLD (XAU/USD) for August 11-15, 2025: sell below $3,380 or buy if rebound 3,341 (21 SMA - 7/8 Murray)

The eagle indicator is showing a negative signal, so we must be very cautious if we are buying, as the bearish force is likely to intensify in the coming hours

Dimitrios Zappas 17:51 2025-08-11 UTC+2

Forecast for EUR/USD on August 11, 2025

On Friday, EUR/USD made two rebounds from the 1.1637–1.1645 support zone and turned in favor of the euro. This means the upward movement could continue today toward the 76.4% Fibonacci

Samir Klishi 10:44 2025-08-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.