Potential Short-Term Bullish Momentum
The GBPUSD is currently exhibiting a Weaker Bullish Trend on the Weekly Chart.
Upon closer examination of the Daily Chart, it appears that the completion of the Bullish Shark setup may have eluded us. The current resistance level holds pivotal importance. A close above it would prompt traders to await a buying opportunity. Conversely, if the market respects this resistance, the formation of a double top might signal a shorting opportunity.
For those inclined towards a shorting stance, my focus lies on the formation of a double top pattern at the Bearish Crab Pattern, projected at 1.2441 on the 1-hourly chart.
I'm curious about your perspective. What's your take on the GBPUSD? Please share your insights below!
Upon closer examination of the Daily Chart, it appears that the completion of the Bullish Shark setup may have eluded us. The current resistance level holds pivotal importance. A close above it would prompt traders to await a buying opportunity. Conversely, if the market respects this resistance, the formation of a double top might signal a shorting opportunity.
For those inclined towards a shorting stance, my focus lies on the formation of a double top pattern at the Bearish Crab Pattern, projected at 1.2441 on the 1-hourly chart.
I'm curious about your perspective. What's your take on the GBPUSD? Please share your insights below!
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