GBPUSD: Consolidation and Complete Indecision 🇬🇧🇺🇸
https://www.tradingview.com/x/knTxXBup/
Even though GBPUSD is trading in a bullish trend since October,
the pair is in a deep consolidation, the last 3 weeks.
The pair is currently stuck within a horizontal range on a daily.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 1.283,
we can anticipate a movement higher to 1.294 resistance.
Bearish Scenario
If the price violates 1.26 support and closes below that on a daily,
a bearish continuation may follow to 1.255 level.
Because the long-term trend is bullish, I remain bullish biased.
Chances will be high that the resistance of the range will be reached.
❤️Please, support my work with like, thank you!❤️
Even though GBPUSD is trading in a bullish trend since October,
the pair is in a deep consolidation, the last 3 weeks.
The pair is currently stuck within a horizontal range on a daily.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 1.283,
we can anticipate a movement higher to 1.294 resistance.
Bearish Scenario
If the price violates 1.26 support and closes below that on a daily,
a bearish continuation may follow to 1.255 level.
Because the long-term trend is bullish, I remain bullish biased.
Chances will be high that the resistance of the range will be reached.
❤️Please, support my work with like, thank you!❤️
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
Related publications
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.