Waiting for rally up on GBPUSD and retest of previous structure
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.
