 Hello, what's going on guys? My name is Mark and today I thought I would give you my two cents as it were on the Great Bridge Pound against the US dollar which has seen quite a big fall here recently You can see first of all that it's been on ascending uptrend pattern, right? So higher highs higher lows Since about the beginning of March was always good These are the patterns that we look for and I wish that I'd have made this video a couple of hours ago when I first looked at this chart around here because it would have I was a genius and it's what I was a genius and I could put it in the future, but Without any more delays, let's just get straight into it. So four-hour chart here first thing I want to whack on is the SMA as I always say a few if you're not familiar with any of this there will be links in the description That will take you to kind of why I use what I use and then that sort of thing Make that red, right? So the first thing before we even Move on first of all, let me just draw in the resistance, right? So you can see that I think it broke new highs Here previously, right, but let's just draw in these resistance levels here So I'd say there's probably a pretty good resistance around this one 4245 level right and obviously it's peaked out here and Previously it's broken above it, but in general so we've hit it here hit it here hit it here three Four times, right? So so that's what I look for. I don't look for the the Necessarily the peak I just look for where it hits it the most right because we want the most reliable Indicators and if we're looking for a support level Right, so there's not really a consistent kind of horizontal support level here So what I actually found earlier, right is I drew this line and I'll show you okay because of the ascending Uptrend pattern The the supports are always getting higher and higher right so you can see a higher support here higher support here Higher support here and then before When I looked at the chart this hadn't actually touched here Yeah, but you can see that it's reached this this support level here And also the reason I wanted to bring up the SMA is if you look since about kind of Middle of March and then previously it's done it if we go a little bit further back kind of Towards the end of last year if you look it always or not always But it quite reliably kind of bounces off this SMA line here, right? So you can see it bounce off the SMA line here bounce off the SMA line here and more importantly if we're looking recently okay, it's bounced off the SMA line here and Where are we right now? We are at the SMA line so potentially This would be quite a good spot to be looking to buy But let's kind of look at a couple of other things and just make sure that that maybe is a good time to buy right now Okay, so look at the EMA. So the EMA is a little bit more sensitive gives a bit of reflection a better reflection Right, so I wouldn't want to buy it right now. Okay, just because there's no guarantee There's no even though, you know, we've seen it bounce off the SMA here and here Right and potentially it could bounce up. There's nothing that is stopping this from going all the way down to 137 I mean it might be unlikely, right? But there's nothing to stop in it So what we're gonna wait for is you can see it's broken below the EMA here, right? And we are gonna wait for a what I'm gonna wait for you can do what you like, but I'm gonna wait for the For it to break above the EMA, right? And then once it's broken above this EMA and we've got a confirmation that the uptrend pattern is gonna continue Then I think this is something that I'm gonna buy into. I don't typically deal with Forex all that much but this pattern is just so strong and Looks so consistent over the past couple of months. It's kind of caught my eye and it's something that I'm interested in So let's just have a look at a couple other things like the MACD here So you can see again that I wouldn't want to buy it. It's such a strong sale. I want this to curve in At least a little bit and get these indicators to cross here Right get the MACD and the signal line to cross. So definitely not looking to buy anytime soon This could drop further. So that's a pretty strong set off that it's had over the past four hours And let's have a look at the RSI. I would imagine on the RSI before I even have a look that it's gonna be quite oversold But let's have a look we'll find out Right, yeah, so pretty oversold on the RSI and if you look here when it's previously been this oversold You can see that it rallies up, right? And so that was oh my Cameras in the way so you can see it when it was previously that oversold down here down at this kind of level See that it rallied right up and I actually reached Near it's all-time highs so We'll see again. We're gonna wait on the confirmation We're gonna play it safe as it were wait on the confirmation wait for a break above the EMA Hold above the EMA RSI to turn up EMA to turn up And MACD to start curving in and this is potentially looking like a pretty good buy a lot of margin for profit as well You know, you've got a lot of room here. I Would imagine obviously the EMA to kind of continue to move down at this point But yeah, so we're looking so we're probably set up probably set. In fact, let me get my whiteboard Write that down. So that's one where's the EMA at 142 exactly Oh, that's pretty gnarly sneeze. I can't close my mouth still just because my wisdom tooth, but Yeah, 142 my keeper eyes out for that look for a consolidation above that level there and And buy and make ourselves some money I'm gonna be doing day for the two two and a half thousand dollars to ten thousand dollar challenge. We are up I think it's up for another 350 dollars today, which is good four days in we've done a thousand dollars You can't complain too much But if you enjoyed the video make sure you like the video subscribe. Let me know if you agree disagree what your thoughts are Be super interested to know Apart from that, I hope that it was helpful And yeah, maybe I'll catch you guys another time if you do subscribe that'd be good. That'd be good All right in a bit people