GBPUSD rebounded after not reaching the weekly demand zone. However, as the daily upward wave continues, it can continue to move upwards. And if it rises above the blue support line in the center of the chart, the probability of a second bullish wave will increase.
And, the second rise is a monthly correction process, so it will continue until at least early September.
However, if it descends into the weekly demand zone, the pattern will change and this chart analysis should be corrected.
And, the second rise is a monthly correction process, so it will continue until at least early September.
However, if it descends into the weekly demand zone, the pattern will change and this chart analysis should be corrected.
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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.