Since the recent high near 1.27, GbpUsd has dropped almost 400 pips.
However, the drop is corrective in nature and is drawing a falling wedge pattern on smaller time frames.
Confirmation for reversal comes with a daily close back above 1.24
However, the drop is corrective in nature and is drawing a falling wedge pattern on smaller time frames.
Confirmation for reversal comes with a daily close back above 1.24
Note
Gbpusd is trading above both the falling trend line and the horizontal levelNote
The bullish scenario looking better and better.Yesterday the price dropped under support, but buyers quickly took control and the daily candle is a long tailed Pin Bar from that support
We can expect more gains even above 1.2550 target
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.