GBP is currently in an accumulation phase after a long bullish trend that started from the 4th of March up until the price got corrected on the 24th of April by about 5.06%, which later got converted to a flag pattern.
The Outlook on the pair currently is to anticipate for a breakout above the upper-trendline (which is serving as a dynamic resistance zone) at 163.85, then wait for a minimal reversal to retest the upper-trend and turn it to a support level.
A BUY position could get her play-time in the market from 163.90 all the way to 175.20.
The Outlook on the pair currently is to anticipate for a breakout above the upper-trendline (which is serving as a dynamic resistance zone) at 163.85, then wait for a minimal reversal to retest the upper-trend and turn it to a support level.
A BUY position could get her play-time in the market from 163.90 all the way to 175.20.