Market next move 🔍 Disruption/Critique of the Current Target Analysis:
1. Lack of Technical Justification:
The chart marks a “Target” level without referencing a clear technical basis (e.g., resistance, Fibonacci level, or moving average).
Without a corresponding pattern or indicator signal (e.g., breakout, double bottom, divergence), the target seems arbitrary.
2. Volume Spike Misinterpretation:
While there’s a volume spike in the last candle, it's accompanied by a bearish candle, suggesting potential selling pressure, not buying strength.
A bullish continuation would ideally require a green candle with increasing volume, which is absent here.
3. Market Context Ignored:
No consideration of broader market context such as macroeconomic news, DXY strength, or interest rate expectations which heavily impact GBP/USD.
The U.S. flag icon indicates upcoming news – trading before such events can be risky and invalidate the technical target.
4. Resistance Zone Overlooked:
The “Target” lies near the 1.3500 psychological level, which often acts as resistance. This isn’t discussed or marked.
Recent price action near that level shows rejection, making it a questionable target without strong buying confirmation
