GBPUSD: Next Major Bull-Flag-Formation, Next Setup!GBP/USDOANDA:GBPUSDVincePrinceHello There, welcome to my new analysis about GBPUSD on the 4-hour timeframe perspective. The forex pair recently formed strong bullish upthrusts with several higher highs. Also, as seen in my chart, GBPUSD already completed this initial bull-flag formation, of which the targets have been reached already. Now, I have spotted the next major formation likely to exceed the bullish expectations. As seen in my chart, GBPUSD already formed this crucial bullish uptrend channel in which it bounced several times in the lower boundary. Also, the 30-MA marked in green in my chart is forming substantial supports. Despite this, GBPUSD also has underlying horizontal supports marked by the orange dotted lines. It is very unlikely that GBPUSD drops below these levels with the current ongoing bullishness. Currently, the most important formation of this whole structure is the second bull flag forming. Once GBPUSD has the ability to come around with substantial bullish bounces above the upper boundary, as marked in my chart, this is going to activate the next bullish bull-flag breakout and bullish expansion continuation towards the upside. It will also activate the entry setup as shown in my chart. Once this crucial setup has been activated and GBPUSD has confirmed the bull-flag completion, the targets within the 1.3755 area, as marked in my chart, will be activated. It will be highly important to determine how GBPUSD is going to reach these zones and with what momentum it trades then. Once this is determined, further assumptions about the continuation of the bullish price action can be made. With this being said, thank you a lot for watching! What do you think about GBPUSD right now? Are you positioning yourself in the market? Let us know in the comments! VP