GBPUSD potential bounce
After price expanded aggressively to the upside, it left behind an unmitigated imbalance. It then preceded to retrace back down, forming liquidity above an established demand zone that was formed before the previous expansion. It could potentially use this liquidity, with the aid of the demand zone, to fuel its move further upwards to take out liquidity that was formed at the top as well.
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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.