If you look at my previous GBPUSD analysis, we can see that the market failed to break through the resistance and continued as a short downtrend. i have drawn new support and resistance zones so i can identify what direction the market could possibly move. If the market respects the Support line and closes higher than the previous low,that would indicate that the chart has formed a double bottom. Eventually, the market will break out the parallel channel that's what would like to see. We are patiently allowing the market to move its direction as we know patience is key!
