GBP/USD: a big bearish move is around the corner?
Last week, when the price was sitting around the 1.202 - 1.204 zone, we executed long positions and aimed for the current level of crucial resistance. Now that a decent double top pattern has been formed, we are expecting for a deep bearish leg and liquidity grab before the uptrend may resume. We are aiming towards entering short positions upon further price development and targeting the zone below the freshly formed bottom (as indicated on the graph) as our initial destination.
From there, another trade analysis will follow.
From there, another trade analysis will follow.
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