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

$GBPUSD | 1H Trade Setup Update

Position: 🟢 Long

Trade Details:
• Entry: 1.3164
• Stop Loss: 1.3148
• Take Profit: 1.3217

● Current Analysis
GBP/USD is testing resistance near the 200-period Moving Average (MA), just above the Point of Control (POC), and approaching the 0.786 Fibonacci resistance level. Momentum indicators show bullish pressure, but the pair is near key resistance levels.

● Technical Indicators
- Momentum: Rising, indicating increasing bullish pressure.
- Money Flow: Increasing, supporting the bullish outlook.
- Stochastic RSI: Overextended, suggesting potential overbought conditions.

● Outlook
With moving averages crossing into a bullish alignment, continued upside potential is present. Watch for a confirmed breakout above the 200 MA and the 0.786 Fibonacci level to support further bullish momentum. Stay cautious as the Stochastic RSI indicates overbought conditions, which may lead to a pullback before the next leg up.