GBP/USD Bulls are strong and it seems like they are looking to break the 1.2650 resistance zone clearly. As I predicted based on price
action that breaking 1.2350 will lead to strong uptrend, GBP/USD has reached the target 1.2650 and now it looks like
Bulls are consolidating.
There was some profit taking at the supply zone near 1.2650 but bulls have not shown any weakness so far.
Looking at the price action it looks like bulls have a good chance to break this resistance zone.
If 1.2650 zone is broken by the bulls, the path of least resistance is to the upside towards 1.30.
But, sometimes price can do a false breakout. So, it is better to wait for two daily candles to close before putting
new orders.
Use price action to predict the next direction. Do not let news, chatter and headlines cloud your trading decisions.
action that breaking 1.2350 will lead to strong uptrend, GBP/USD has reached the target 1.2650 and now it looks like
Bulls are consolidating.
Looking at the price action it looks like bulls have a good chance to break this resistance zone.
If 1.2650 zone is broken by the bulls, the path of least resistance is to the upside towards 1.30.
But, sometimes price can do a false breakout. So, it is better to wait for two daily candles to close before putting
new orders.
Use price action to predict the next direction. Do not let news, chatter and headlines cloud your trading decisions.
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