TradingStat

GBPUSD: Will there be a breakdown?

Short
FX:GBPUSD   British Pound / U.S. Dollar
The instrument approaches the resistance 1.4241, goes to the level without energy distribution, consolidating it. Nevertheless, I suppose that the first time the pound sterling will not break through this level, it will make a false breakout and return to the lower border of the ascending channel - 1.4000. Be careful with shorts, as the trend is upward and the price follows an upward channel.

Comments

Very nice chart ! Well done
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great explanation mate thanks
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It's tough to say honestly. The current trend does look pretty strong so expecting your above analysis then bouncing up afterwards :) Keep up the great work!
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