Forex analysis: GBPUSD

Forex analysis: GBPUSD Daily-Chart

Here you can see the Daily-Chart of the GBPUSD.  At the beginning of the next week, this Forex pair stands on top of my watchlist. As always, I've highlighted important levels in the chart. The support level (light green) and the trendline (dark green). One must always be aware within the Foex analysis that it is never exactly a line, but rather an area. Over the last two months  the price of the GBPUSD has risen up above the level and has now returned to this resistance area.

At this current support level I will take the smaller timeframes in the focus. Are there any signs that the course is turning? I look at the candlesticks. In my opinion, it is very important that you work with several timeframes. The interaction is crucial here to maintain a sense of the market. In the big timeframes (Weekly, Daily, 4h-Chart) I get the overview and in the smaller (1h, 30min, 15min, 5min chart) I search for entry signals.

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