Here it is, after a long couple of weeks, GBPUSD has finally gone bearish. This is a long shot, but this particular area could serve as the next potential reversal point. Along the way there could be some setups that can support price using this area to rally up, at least to the LQP. The 38.2 take profit is near the LQP so there's some level of interest in case price doesn't have the momentum to continue rallying up. However, this D point could also be the orchestra to start a new trend, resume the bullish trend. On the daily, we have a Wyckoff Distribution lingering, maybe this could fuel the 4th hit to be higher?
Order avbruten:
Failed to break past the B point and reversed beyond the A point