$GBPUSD - I'm Not Worried
GBPUSD Price action on the 4hr time frame continues to show resiliency except for last friday's session where algorithms started stop hunting longs through out the days session. I'm not worried, because 1.3048 support line has held in the past & a reversal may be in the works in the coming sessions. Looking for an upward reversal to retest the upper range of the downward sloping trendline line. If it punctures & holds at 1.3188, then price action may move along the next upward trendline set 1.3233 and build from there. On the contrary, should algorithms continue with their stop hunting strategy then price action could retrench towards the next trough support line at 1.2872. If so then this can be prepositioning of pricing for upcoming US central bank interest rate announcement for no hikes. If this is the case, just watch this pair fly upwards.
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