GBP/USD Daily Timeframe Analysis
1. The price is still trading within a bearish flag pattern on the daily chart.
2.Currently, the price is in a significant high on the higher timeframe.
3. There has been a recent breakout of resistance on the Daily Timeframe.
4. The breakout occurred at the same spot as the trendline breakout.
Expectation: We can anticipate a potential move to the downside for a retest of the previous resistance breakout level and the broken trendline. After a successful retest, the overall bullish trend may continue.
1. The price is still trading within a bearish flag pattern on the daily chart.
2.Currently, the price is in a significant high on the higher timeframe.
3. There has been a recent breakout of resistance on the Daily Timeframe.
4. The breakout occurred at the same spot as the trendline breakout.
Expectation: We can anticipate a potential move to the downside for a retest of the previous resistance breakout level and the broken trendline. After a successful retest, the overall bullish trend may continue.
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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.
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.