Mth-long Consolidation for Profits

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  • GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase.


Trading Decision Dilemma:

  • The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity?


Buying Opportunity:

  • For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern at 1.1951 for a potential entry.


Aggressive Selling Approach:

  • Traders seeking a more aggressive move may consider the Bearish Butterfly Pattern on the 1-hourly chart, providing an opportunity to short at 1.2180.


Now, the pivotal question arises: Bull or Bear? Which side aligns with your trading strategy? Share your thoughts below!

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