Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

GBPUSD Analysis & Trading Plan - 29 July 2024

29 Jul 2024 · 1 min

Watch on YouTube

0:56

In this YouTube segment, Vladimir Ribakov evaluates the GBP/USD pair, highlighting strong bullish momentum on the daily chart marked by higher highs, higher lows, and synchronized indicator readings with no reversal signs. He confirms the same bullish structure on the four‑hour chart, which mirrors the daily trend with three consecutive higher highs and higher lows. The pair is currently pulling back toward key Fibonacci levels; Ribakov states that if these levels hold, he will initiate a long position, anticipating a further rally. He concludes by inviting viewers to share their thoughts in the comments.

Chapters

Is it time to buy the pound dollar? Let's take a look on the charts. On a daily chart, the price creates and holds bullish, strong bullish momentum. Higher highs on the chart, higher highs on the indicator. Absolute zero reversal signs at the moment. Besides the synchronization between the price and the indicator, the price structure is also bullish. Classical price action: three higher highs, higher lows. Four-hour chart follows the daily chart path by making three higher highs, higher lows, and maintaining bullish trending conditions. Right now, the pair is experiencing a pullback towards key Fibonacci levels. As long as these Fibonacci levels hold, I will be after buy the pound dollar, expecting it to make a further rally. What do you think about this one? Let me know in the comment section.