Hey everyone, of course everyone now wants to know what the market will do after this bullish explosion!
Well GBPUSD stands in front of VERY important resistance level and the market is supposed to retrace now.
But the shape of this retracement will determine whether we will have noticeable retracement, or there is interesting in higher prices.
So let's have alternative scenario analysis and be prepared for any probability.
if the market consolidated in front of this resistance level NOTICEABLY and refused to show any noticeable lower low and lower highs, then penetrated, of course you should consider that there wasn't convention for lower prices, and the market seeking higher prices.
Personally, I tend to the first scenario, but everything could happen. And I'll update this idea to help you identify what is happening
Good luck, To be updated..
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Wait, I'll keep an eye on this forecast to rest assure that it will happen, and to catch its end
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If the market showed stable closing prices above the channel, we would long the market.
Best of luck,
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Needless to say, we still in our short position....