Long

GBPUSD → What can pre-breakdown consolidation lead to?

Updated

on the background of the bullish trend is forming a correction, which is within the descending channel. We have prerequisites that indicate the soon end of the set-up and the continuation of growth.

Last week the price tested the resistance of the channel with a false breakdown, but it did not happen what everyone was waiting for. There is no fall and the price continues to consolidate and approach the resistance, which only increases the chances for the end of the correction and the exit of the price from the consolidation with the subsequent continuation of growth to 1.2827 or even to 1.30.
The pound, on the background of the polytka, is holding strong enough, consolidation in the near future can move into the realization phase and show us the distribution.

Resistance levels: 1.26836
Support levels: 1.2506, 1.26124

Waiting for the next resistance retest, which may give us an opportunity to work out the strategy "resistance breakout", with the subsequent renewal of highs and price growth.

Regards R. Linda!

Note

A retest of the previously indicated resistance is formed

Note

Consolidation above the key level is forming. If the bulls hold positions above 1.26836, it could be the beginning of further growth

Note

Pre-breakout consolidation

Note

The market is not giving up yet :)

RLinda

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