GBP/USD: Sideways Movement Expected After Exhaustion
GBP/USD shows signs of exhaustion following a Last Engulfing Top pattern, confirmed by yesterday’s break below the pattern’s low. However, instead of a major reversal, the price appears to be setting up for sideways movement.
The recently surpassed resistance, now acting as support, is the key level to watch. The market seems to be consolidating around this area, suggesting indecision among traders.
I expect the price to range between this support and recent highs, indicating a pause rather than a sharp reversal. Traders should be cautious and wait for clearer signals before committing to a direction.
The recently surpassed resistance, now acting as support, is the key level to watch. The market seems to be consolidating around this area, suggesting indecision among traders.
I expect the price to range between this support and recent highs, indicating a pause rather than a sharp reversal. Traders should be cautious and wait for clearer signals before committing to a direction.
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Tanakorn Koomrampai ,CMT, CFTe
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FB page (International) : facebook.com/graphtechniq
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Line @graphtechnic
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Tanakorn Koomrampai ,CMT, CFTe
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.