Here's my take on the GBPUSD, from a technical perspective.
On the daily time frame, price action is operating around the support of a descending channel (black) but with a slight northward disposition. Based on recent candlestick patterns on the daily time frame, we will likely see a brief northward move before a southward turnaround. The congestion area around 1.27290/1.28700 (bound by magenta horizontal lines) is likely to see a southward turnaround of price action.
I may be wrong. Trade safe and prosper.
KP
On the daily time frame, price action is operating around the support of a descending channel (black) but with a slight northward disposition. Based on recent candlestick patterns on the daily time frame, we will likely see a brief northward move before a southward turnaround. The congestion area around 1.27290/1.28700 (bound by magenta horizontal lines) is likely to see a southward turnaround of price action.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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