Lingrid | GBPUSD in the CONSOLIDATION zone. Long

10月1日

The price perfectly fulfilled my previous idea. It reached the target. The price action indicates that the GBPUSD is currently in a consolidation zone after reaching the resistance area. Overall, the market is in a bullish trend on the daily timeframe, which suggests that there is still underlying demand pushing prices higher. However, the recent break of the upward trendline indicates a pause in the bullish momentum. This break may suggest that the market could be in the temporary slowdown before deciding its next move. Given that the price is now in a range, it’s likely that the market may stay within this range for some time before continuing the bullish trend. My target is resistance zone at 1.33960


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻