After sell climax, strong reversal up happened on GBPUSD. Big Down, Big Up, trading range likely.
After reversal up, triangle formed. Triangles have 50-50 chance of either bull or bear breakout.
Since GBPUSD had strong bear trend before, bears are trying to break below triangle and test the trend extreme.
On the other hand bulls are trying to create double bottom bull flag and see higher prices.
What do you think about this chart? Feel Free and Comment Below!
After reversal up, triangle formed. Triangles have 50-50 chance of either bull or bear breakout.
Since GBPUSD had strong bear trend before, bears are trying to break below triangle and test the trend extreme.
On the other hand bulls are trying to create double bottom bull flag and see higher prices.
What do you think about this chart? Feel Free and Comment Below!