Although the market is consolidating, the market is moving on a price range and making a rectangle pattern. We just have to wait for the price to give us the entry whether is a sell or buy. I'm inclining to believe that gbpusd will go for a short position and mostly because we've been in a bearish market this past months, but we just have to wait for the price to tell us what it's going to go. Target would be the green lines depending what the market does in the future.
Do you have any other ideas? Let me know on the comments.
Trade closed: target reached
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Retest were too fast as expected in a rectangle pattern.