Good morning traders! Today we will analyze GBP/USD, as it is in an interesting bullish situation, and this movement may continue next week.
🔸On the 4H (published) chart, we see that the price bounced to the bottom of the bearish channel. From there, the movement has been quite vertical.
🔸We are currently in a corrective process, which will probably last until the beginning of next week.
🔸What we are waiting for is the following:
🔸We draw the trend lines of the corrective pattern, and we see that it is a kind of incomplete flag pattern. We believe that we may see further bullish momentum once complete if a breakout to the upside occurs.
🔸The target of the movement is the confluence zone between the Resistance zone and the Descending Trendline.
🔸On the 4H (published) chart, we see that the price bounced to the bottom of the bearish channel. From there, the movement has been quite vertical.
🔸We are currently in a corrective process, which will probably last until the beginning of next week.
🔸What we are waiting for is the following:
🔸We draw the trend lines of the corrective pattern, and we see that it is a kind of incomplete flag pattern. We believe that we may see further bullish momentum once complete if a breakout to the upside occurs.
🔸The target of the movement is the confluence zone between the Resistance zone and the Descending Trendline.
