Here on the GBPUSD
, we can see that price is currently in a descending channel
however. I believe price is showing signs of a bullish
reversal. price is starting to form a descending wedge
pattern and also a gradual loss of volume
(consolidation/contraction). In this week commencing, i am looking to see a break above prices previous swing Hi (@1.31800) followed by that level acting as support.
I am looking to close the position at prices previous level of resistance which has pushed the market around multiple times (@1.32648).