GBP/USD : First Long, Then SHORT! (READ THE CAPTION)

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By analyzing the GBP/USD chart on the 2-hour timeframe, we can see that the price has dropped more than 200 pips since last week up until now, finally reaching the demand level we had marked on the chart. After reaching the 1.30720 demand level, the price encountered strong demand pressure, rising over 60 pips and ultimately closing at 1.31132. The total return of this analysis so far has been over 260 pips. It is likely that after an initial upward movement, we will see further price correction.

The Main Analysis :

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Best Regards , Arman Shaban