FX:GBPUSD British Pound/U.S. Dollar
There's a multiple-bar pattern formed on GBP/USD . There are a lot of bars contained within this pattern which could lead to a strong breakout or breakdown in today's London session. If the price breaks below the low of the pattern, we could potentially have selling opportunities in today's London session and the lower band of the could serve as a target for sellers. On the flip side, if the price breaks above this pattern, traders could watch for sell signals at the 200 period golden moving average. The long term trend is still down as the price remains below the 200 period golden moving average thus we could potentially have selling opportunities in today's London session.