The price action created an accumulation of candles on top of a horizontal support area that energized bulls and pushed the price significantly higher. However, one reason for that to happen is the BoE's decision to increase interest rates in December 2021.
I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of the downtrend channel.
GBPUSD
Happy New Year to everybody and may the Godmother of forex trading bring all a zillion of pips.
I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of the downtrend channel.
GBPUSDHappy New Year to everybody and may the Godmother of forex trading bring all a zillion of pips.
Note
Please support me with your thumbs up and comments.Trade active
Today a bullish trendline (H4) was broken. But that doesn't necessarily mean that the bears are going to push it lower than today's low. We must monitor it closely.Trade active
H&S on M5/M15. Aiming for 20 pips.Trade active
Looks like the pattern was too small and so it failed.Trade active
The bulls were seriously energized.Note
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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.