GBPUSD has recently broken its uptrendline and moved into a parallel level. After some swings, it formed a nice pinbar and is about to finish its retracement. Observing the price action, we can see that the buying momentum is decreasing, and the market has created a lower high wave. Based on this, we anticipate a downtrend to appear soon.
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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.