$GBPUSD | 1H Trade Setup Update Position: 🟢 Long

$GBPUSD | 1H Trade Setup Update

Position: 🟢 Long

Trade Details:
• Entry: 1.3028
• Stop Loss: 1.3010
• Take Profit: 1.3113

● Current Analysis:
GBP/USD is consolidating near the 200-period Moving Average (MA) and approaching the 0.786 Fibonacci resistance level. Price action is hovering around the Point of Control (POC), suggesting significant trading activity in this range. Bullish momentum is picking up, but key resistance levels are in play.

● Technical Indicators:
- Momentum: Rising, reflecting increasing buying pressure.
- Money Flow: Climbing, adding strength to the bullish case.
- Stochastic RSI: Overbought, signaling potential for a pullback.

● Outlook:
A breakout above the 200 MA and the 0.786 Fibonacci level could confirm further upside potential. However, with the Stochastic RSI overbought, there's a risk of short-term pullback before the next push higher. Traders should remain cautious, watching for either a sustained breakout or a rejection around current levels.