We can see from the chart that GBPUSD has formed an upward channel as it continues to test its previous lows. It is safest to wait for the bearish reversals before joining the buyers for beginners. But for intermediate to advanced traders, the bearish position can be placed before joining the bulls.
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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.