capitalpropertiesfx

GBPUSD back in the consolidation area

FX:GBPUSD   British Pound/U.S. Dollar
151 1 4
I'd say that this pair is at crossroads. A break from the consolidation area could go both ways as we have plenty of good arguments for both bears and bulls. In short-term, I would not be suprised to see further downside but in middle-term I'd say the uptrend is fully intact. Whatever is going ta happen, I am going to stay away from this pair until we move further away from that consolidation area.

Related Ideas

Daniel.Dalo
2 years ago
Thank you very much for sharing this! I think it's a great analysis, hard to say if it's going higher or lower, because just based on previous structure, price has not violated previous lower high from last major swing, but it respected last support level (which in this case is your bottom line of the consolidation), so I'm also going to watch this pair for a breakout on any direction.

Thanks again!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out