GBPUSD Forex Signals with TP and SL

GBPUSD Forex Signal Update: Bullish Trend with Retracement on the Horizon (April 18, 2024)

Arif Chowdhury
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Last Updated on April 18, 2024 by Arif Chowdhury

Are you looking for GBP/USD forex signals? This post analyzes the latest price action and potential trading opportunities.

  • Bullish Trend on the Daily Chart: A bullish harmonic pattern remains visible on the Daily chart, indicating a continuation of the uptrend.
  • H1 Chart Hints at Retracement: A bearish bat pattern has emerged on the H1 chart, suggesting a possible price retracement in the near future. The retracement could bring the price down to the 1.2446 – 1.2461 level.

Lower Time Frame Confirmation:

  • M15 Chart Bullish: The M15 chart shows strong bullish signals. The price crossed and remained above all three moving averages (41, 87 & 200) for a sustained period.
  • M30 Chart Bullish: Similar to the M15 chart, the M30 chart also reflects a bullish trend with prices consistently above the moving averages.


  • Expect a Retracement: A price retracement is likely on the H1 timeframe.
  • Stay Bullish Overall: Despite the potential retracement, the overall trend on the Daily chart remains bullish.
  • Cautious on Short Trades: Avoid short trades during the retracement as the uptrend is likely to resume afterward. Shorting is at your own discretion.
  • Maintain Profit Targets: The previous profit targets remain valid: 1st target at 1.2558 and 2nd target at 1.2621.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any trading decisions.