GBP/USD is facing two potential scenarios in the near future. The first scenario is that the current trend will continue and the price will break out, potentially leading to a rise in the price to a new high, or HH.. The second scenario as we can see price is made double top and the price may drop from the current consolidation area, indicating a potential bearish trend. This could occur if there is negative news related to the UK economy, such a as poor economic indicators ( this scenario is more possible), Traders should monitor market trends and news events closely to determine which scenario is most likely to occur, and adjust their trading strategy accordingly.
Trade active
buy opportunity is activeTrade closed: target reached
TP reached
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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.