GBP/USD: Sideways Movement Expected After Exhaustion

٣٠ أغسطس ٢٠٢٤

GBP/USD shows signs of exhaustion following a Last Engulfing Top pattern, confirmed by yesterday’s break below the pattern’s low. However, instead of a major reversal, the price appears to be setting up for sideways movement.

The recently surpassed resistance, now acting as support, is the key level to watch. The market seems to be consolidating around this area, suggesting indecision among traders.

I expect the price to range between this support and recent highs, indicating a pause rather than a sharp reversal. Traders should be cautious and wait for clearer signals before committing to a direction.

٤ سبتمبر ٢٠٢٤

تم فتح الصفقة

Hold Short

١١ سبتمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

Target reached