GBPUSD
Preference:
This currency pair exhibited a prolonged period of upward momentum that persisted until its valuation began trading within a range on the 4-hour time frame. The range has been consolidating for the past few days. Notably, the most recent movement resulted in a retest of the support level within the range, and the price has since wick-tested this area, currently retesting a four-hour imbalance zone. Should the price fail to exceed this threshold, there is a possibility that the range will be breached and the structural level beneath it will be retested before the upward trend persists.
Alternative Scenario:
It is likely that the current support level may remain strong within the expected range, and subsequently, the price may surpass our consolidation area, thus creating a higher high.