GBPUSD seems to be in super bullish mood as price broke out of the consolidation channel very aggressively as indicated by ultra high bullish bars formed at Awesome Oscillator indicator. We may note that institutional accumulation might be taking place with in consolidation channel as exhibited by high volume bars with in that descending channel. So powerful break out seems to have institutional backing as well meaning we have solid support in that area. As price growth has lost steam as of now, we may expect retracement upto golden zone and then resume with bullish continuation.
Trade active
Powerful bounce from golden zone. Price seems to be on course to print new highs.
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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.