Gu
GBPUSD: One Break Away
Same Idea, just looks like they wanted to grab some more buyers with a higher high.
Sentiment should be nearing highs considering the vaccine news. The media shepherds should start making their way over to the panic cycle which I'm predicting runs through q1 2021.
We have not yet broken trend so this is all hypothetical until price action confirms.
GBPUSD is Undecided, Probably BullishGBPUSD has been in a range since mid 2016. Therefore long-term trending strategies may not work at the moment. Also when price is at support or resistance of this range, you have to be careful with the direction of your trades. Counter swings are very powerful there. A lot of directional trades may not work. This will be so until GBPUSD breaks out of this range or leaves the extremes. It's currently at the resistance. If it does break out, there will be nice swing and position trading opportunities in the long side. It's a major resistance so I would wait for another strong bullish weekly candle to confirm a break out.