An Analysis GBPUSD : Bearish Flag PatternGBPUSD is making lower lows in recent time and slightly moving up in consolidation forming bearish flag pattern.
The breakout can happen in two scenario's,
1) the smaller channel marked on verge of breakout, so GBPUSD can move straight down from here & We have Double top also which is good resistance zone
2) Can pullback upwards to retest the upper trendline then moves down breaking the bearish Flag pattern
As its on daily timeframe these scenarios will take time to evolve. Lets keep this on our radar and enter trades in 4h / Hourly based on this.
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Happy Weekend & Happy Trading !!
