$GBPUSD | 1H Trade Setup Update Position: 🔴 Short

$GBPUSD | 1H Trade Setup Update

Position: 🔴 Short

Trade Details:
• Entry: 1.306
• Stop Loss: 1.307
• Take Profit: 1.31

● 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.

● 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 having crossed into a bullish alignment, there is potential for continued upside. Watch for a confirmed breakout above the 200 MA and the 0.786 Fibonacci level to support further bullish momentum.