Price Action Analysis of GBP/USD
Current Trend: The overall trend is a downtrend, as indicated by the descending trendline visible on the chart.
The white arrow on the chart shows a potential rebound path. If the price can break above the trendline and hold, a rebound rally may occur. The price needs to break and hold above the descending trendline, which is a key confirmation signal. If the breakout is successful and the pullback does not fall below the trendline, further upward movement is likely.
The white arrow on the chart shows a potential rebound path. If the price can break above the trendline and hold, a rebound rally may occur. The price needs to break and hold above the descending trendline, which is a key confirmation signal. If the breakout is successful and the pullback does not fall below the trendline, further upward movement is likely.
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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.