GBPUSD is still downtrending as per previous analyses, and is currently trading within two short-term channels.
We expect price to either quickly drop to the Major Support Zone (staying within the blue channel), or to break above the blue channel and head towards the upper band of the green channel, before finally falling back towards the Major Support Zone.
Short Trades:
Enter short upon failed blue trendline breakout
Enter short upon failed green trendline breakout
We expect price to either quickly drop to the Major Support Zone (staying within the blue channel), or to break above the blue channel and head towards the upper band of the green channel, before finally falling back towards the Major Support Zone.
Short Trades:
Enter short upon failed blue trendline breakout
Enter short upon failed green trendline breakout
