GBPUSD | Live position review | Follow-up details

With over 180 pips profit (3 positions) since the last publication of this pair (see link below for reference purposes); An ambiguous scenario we have here as participants appear to have fallen into an indecision phase right under the 1.259 area (which is serving as our key level at this juncture in the market) - forming a pennant (trend continuation) structure. However, a breakout of the bearish trendline (identified in the 1H timeframe) and key level might incite the beginning of a retracement wave into the golden zone identified in the video. Let's keep our fingers crossed and watch what happens in the next couple of hours!

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Kommentera:

Still looking out for a reversal pattern at the retest of bearish trend to open another sell pending order. However, a breakout/retest of this trendline could be a signal for a bullish momentum (retracement wave - daily time frame).

Kommentera:

I am beginning to line up positions as structure evolves into a bearish bias; see screenshot below

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