FX.co ★ GBP/USD

I see that after we worked through the 1.35350 level I am convinced that buyers are positioning themselves to continue pushing GBPUSD higher toward the Fibonacci resistance and the monthly extreme near 1.37245, and I believe that last week’s update of three key technical levels clearly shows that I am dealing with an intentional attempt to guide price toward the parallel trend line around 1.36420, and I note that in my first scenario I am expecting the opening to be followed by renewed growth because I see daily technical indicators turning upward in the middle of the session and I interpret the weekly chart’s northern turn as a strong signal that I may be facing a prolonged bullish phase with distant targets at 1.37250, 1.37860, and even 1.38444, and I acknowledge that in my alternative scenario I must seriously consider the possibility that sellers will take control at the opening and force a consolidation phase that I would then expect to evolve into a decline toward 1.35500 and possibly lower, and I remind myself that historically I have never observed a situation in which, while the monthly Awesome Oscillator is declining as it is now, the market suddenly manages to rally decisively above it, so I remain skeptical and I keep telling myself that any breakout above 1.37245 should be treated with caution, and I reflect that despite my doubts I cannot ignore the broader context in which I feel the British pound has spent too much time hovering near its annual lows and I sense that a structural recovery may finally be trying to unfold, and I admit that I am torn between respecting the bearish historical patterns I trust and embracing the bullish momentum I currently observe on higher timeframes, and I conclude that for now I must remain flexible and disciplined because I know that only a confirmed consolidation above the parallel trend line will convince me that I am truly witnessing the beginning of a sustained northward trend rather than just another temporary corrective rally.I wish myself a good Saturday morning and I reflect that after observing the reaction of GBPUSD in the 1.3620–1.3623 selling zone I immediately felt frustrated and I admit that I canceled my limit order at 1.3630 and shut down the terminal because I believed the opportunity had already passed, and I now realize that the reaction was only about thirty points and I recognize that this movement would actually have been enough for me to move my position to break-even and protect myself from risk, and I acknowledge that instead I chose to walk away for the weekend without any trades and I sit with the strange mixture of relief and regret that always follows such decisions, and I notice that what saddens me most about these non-reversal movements is that I feel excluded from the trend because I clearly see the direction and I understand the logic behind the buyers’ control, yet I watch helplessly as the price keeps advancing without giving me a clean entry, and I confess that this situation always challenges my discipline because I am tempted to chase the market even though I know that entering late often leads to emotional mistakes, and I remind myself that patience is a core part of my strategy and I try to accept that missing a trade is sometimes better than forcing a bad one, and I analyze that the shallow pullback near 1.3620–1.3623 actually confirmed the strength of buyers and I interpret this as a sign that demand is absorbing supply too quickly for sellers to gain traction, and I tell myself that the absence of a deeper correction reflects underlying bullish momentum that I should respect rather than fight, and I consider that by deleting my order I may have avoided a psychological trap but I also may have missed a low-risk technical entry that matched my original plan, and I reflect that this experience teaches me once again how important it is to trust my preparation and to let the market prove me wrong rather than abandoning my idea too early, and I conclude that although I end the week without positions I still gain valuable insight because I sharpen my understanding of market behavior and I strengthen my resolve to stay patient and ready for the next clean opportunity when the trend finally invites me in again.

I greet Igor Anatolyevich again and I note that Friday’s session closed with a large bullish candle on the GBPUSD pair and I immediately interpret this as a strong sign of buyer dominance and sustained momentum, and I observe that the current price near 1.3642 places the market exactly at a technically important zone where earlier projections and resistance converge, and I remind myself that on the four-hour chart I have clearly identified buying targets using the Fibonacci grid and I recognize that the first target at the 161.8 level around 1.3543 has already been fulfilled, and I also acknowledge that the second target at the 261.8 level around 1.3642 has likewise been achieved, which tells me that the market has already completed two major stages of the bullish projection, and I now focus my attention on the third target at the 423.6 level near 1.3783 and I consider this level as the next logical magnet for price if bullish pressure remains intact, and I reflect that the strength of the last bullish candle suggests that buyers are not yet exhausted and I feel encouraged by the fact that the market managed to reach projected levels without deep corrective pullbacks, and I tell myself that this kind of price behavior often precedes continuation rather than reversal, and I still remind myself that I must remain cautious because I know that every bullish scenario requires a clear invalidation point, and I carefully mark the support at 1.3395 and I accept that a decisive breakout below this level would immediately cancel my growth scenario and force me to reassess my entire directional bias, and I imagine that in such a bearish case I would quickly abandon buying targets and I would begin forming selling projections instead, and I analyze that until this support is broken I have no technical reason to doubt the upward structure, and I admit that psychologically it is easier for me to stay aligned with the dominant trend than to anticipate reversals too early, and I conclude that as long as price holds above key supports and respects the completed Fibonacci expansions I should continue to favor a gradual advance toward 1.3783 while managing risk carefully and staying alert for any signs that the bullish scenario is losing strength.