The GBPUSD has been a in long term down trend. Here we have a descending wedge so probably the prive will want to bounce of the last level of the wedge which retests the resistance.
However the structure outlined with blue line has a lot of potential selling power because it was recongnised by the market in the past.
Because of the general downtrend bias the price will probably look for a structure to retrace to before going down.
However the structure outlined with blue line has a lot of potential selling power because it was recongnised by the market in the past.
Because of the general downtrend bias the price will probably look for a structure to retrace to before going down.
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