The GBP USD is still ranging on the daily chart, the false breakout of the support level of the range is an indication of a bear trap which means that buyers are willing to go and reach the resistance level of the range.
No we have two scenarios :
-If the market breaks the support level of the range , it will go to test the strong supply zone, which will be a great shorting opportunity
-If the market breaks the resistance level of the range it will retest the demand zone which is a nice buying opportunity as well.
Let's watch this market and see what is going to happen
If you got questions feel free to share your ideas and comments
No we have two scenarios :
-If the market breaks the support level of the range , it will go to test the strong supply zone, which will be a great shorting opportunity
-If the market breaks the resistance level of the range it will retest the demand zone which is a nice buying opportunity as well.
Let's watch this market and see what is going to happen
If you got questions feel free to share your ideas and comments