Warning Signs Amidst the Bullish Trend

FX:GBPUSD   British Pound / U.S. Dollar

  • The overall trend on GBPUSD continues to be bullish, making it an attractive option for buyers.

Long Trade Scenario:

  • Daily Chart: A potential Bullish Shark Pattern nearing completion at 1.1937 suggests a buying opportunity.

Short Trade Considerations:

Personally, I'm inclined towards a shorting opportunity. Two potential setups catch my attention:

  • 1-hourly chart: A key resistance level at 1.2174.

  • Daily Chart: A Bearish Butterfly Pattern may complete at 1.2244.

I'm keen to hear your thoughts. What's your trade plan? Comment down below.

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