The GBP/USD has retraced to a significant previous level, forming a false breakout. The long-term trend is still bullish. I believe that this level will hold, and once it breaks the corrective trendline, it is likely to move upward, targeting higher resistance levels.
1D:
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This is probably by far the best example of what a channel looks like.
A channel means, price could break up, which means we'd be able to get into a LONG position or it could mean it breaks down, which would indicate we jump into a SHORT position.
OANDA:XAUUSD is extremely volatile .
Volatile - Adjective
1. liable to change rapidly and unpredictably,...
