- GBPUSD currently exhibits a Weaker Buy signal, accompanied by a 5-week long consolidation phase.
Trading Decision Dilemma:
- The month-long consolidation prompts a crucial decision: Will it be a buying or selling opportunity?
Buying Opportunity:
- For those inclined towards a buying stance, watch for the completion of the Bullish Butterfly Pattern at 1.1951 for a potential entry.
Aggressive Selling Approach:
- Traders seeking a more aggressive move may consider the Bearish Butterfly Pattern on the 1-hourly chart, providing an opportunity to short at 1.2180.
Now, the pivotal question arises: Bull or Bear? Which side aligns with your trading strategy? Share your thoughts below!
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