Expecting GBPUSD to retrace to 1.3920 after rejecting off of resistance that has held price within a daily consolidation range for a couple of weeks now. Maybe price gets enough steam after retracing to break out of the range but it is showing signs of rejection at the top of the range on the daily chart and with a pinbar formed at resistance on the 4 hour chart.
With GBPUSD reaching support near 1.38 expecting the next move to return to resistance at 1.39. GBPUSD has been in an area of consolidation in a bullish flag on the 4 hour which is inside of larger bullish flag on the daily chart.
