Though GBPUSD still tells me to wait, I propose that it is approaching in importent level confluenced by a channel and zone, moreover, I think these will provide sufficient resistence for a minor retracement to follow, preceeding a larger bullish move. This is confluenced by a bullish moving average cross and a support level confluenced by the 200 moving average.
For now it is a wait until it hits either zone, all the same it is crucial to remember waiting before entering on a break in order to avoid fakeouts.
What is interesting is how it paints a picture of either a stronger GBP and/or a weaker USD which may allign with tariff increases by Trump, however I would be amiss in saying a bearish USD would be a very interesting and unique market scenario.
For now it is a wait until it hits either zone, all the same it is crucial to remember waiting before entering on a break in order to avoid fakeouts.
What is interesting is how it paints a picture of either a stronger GBP and/or a weaker USD which may allign with tariff increases by Trump, however I would be amiss in saying a bearish USD would be a very interesting and unique market scenario.
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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.