GBPUSD H4 - New Trendline formation + Bullish Flag
GBPUSD
Price is currently setting up a new trendline and is expected to retrace back to this line at around 1.22 which is also the 38 Fib, Weekly Price Pivot and 4HR 55EMA, before continuing upwards to weekly R2 at 1.238. Expecting a triangle formation with initial resistance at Weekly R2/Daily R1.
Long at 1.22 with an initial TP at 1.245.