High-Reward GBPUSD Setup: Entry 1.3598, TP 1.3867, SL 1.3478The GBP/USD pair has recently shown a clean bullish breakout from a short-term consolidation zone. Price has decisively moved above the 1.3478–1.3480 support-turned-resistance level, which previously acted as a ceiling within a rising channel. This breakout is meaningful—it comes after a retracement toward the lower boundary of the ascending structure, suggesting that buyers are once again gaining control.
The recent bullish candle has closed strong and full-bodied, indicating momentum. Historically, as you mentioned, GBPUSD tends to follow through for a few sessions once a bullish breakout begins. This is visible in prior moves throughout March and April, where an initial spike was often followed by two or three additional bullish candles. That behavior adds confluence to this setup.
Moreover, there is a clear path for price to move toward the long-term resistance near 1.3867, which aligns well with prior supply zones and the upper boundary of historical price reactions.
📈 Trade Idea
• Entry: 1.3598 (current price after breakout confirmation)
• Stop Loss: 1.3478 (just below the support flip and last swing low)
• Take Profit: 1.3867 (next major resistance level)
• Risk–Reward Ratio: ~2.24:1
This setup offers a clean bullish continuation pattern with room to run. If the pair maintains its current momentum, reaching the target in the next few trading days is entirely plausible. Any daily close above 1.3600 with volume would further validate the trend.
