GBPUSD was trading in downside parallel channel pattern, after forming the bottom, it has given a breakout from the channel pattern. We think that price may consolidate until it breaks the resistance line, as shown in the chart because it has immediately tested the resistance line of channel pattern. One can trade, considering consolidation, or can wait for definite trend confirmation.

 Note – Trade With Proper Risk Management System.

 Thanks

Vivek_Samale
Vivek_Samale

I have half a decade of experience as a trader and enthusiastically learning & developing new strategies in algorithm trading & also analyzing the companies with New ESG method.