GBPUSD Weekly Sell - parallel level with multiple rejections
GBPUSD has recently broken its uptrendline and moved into a parallel level. After some swings, it formed a nice pinbar and is about to finish its retracement. Observing the price action, we can see that the buying momentum is decreasing, and the market has created a lower high wave. Based on this, we anticipate a downtrend to appear soon.