FX.co ★ GBP/USD

Hello traders. An analytical view of the GBPUSD currency pair using the Bollinger Bands indicator with the application of volume profiles. In my opinion, at the current price of 1.34512, there is a good opportunity to start buying it. The potential target will be located at the upper edge of the indicator at the level of 1.34664. This level may slightly change considering the indicator's readjustment, but not significantly. It is also important to consider the average indicator value of 1.34351, specifically the price behavior relative to 1.34351. In case of a reversal formation and a decrease below 1.34351, one might consider closing the long position with a small loss and opening a short position. Especially if sellers confidently establish below 1.34351. In that case, the selling target would indeed be at the lower curve boundary at 1.34038.