GBPUSD needs to reach the daily demand zone to complete the correction and have a chance to rebound. If the rebound fails in the daily demand zone, it is likely to decline until the weekly demand zone is found.
Trade closed: target reached
For two reasons, this analysis is no longer valid.1. A pattern that failed to rebound in the daily demand zone (a pattern that is difficult to sustain)
2. A reversal pattern emerges from the peak
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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.