The situatsion in GBPUSD is extremely interesting. We have two triangles there! First triangle, the Blue one, has reached its conservative target, which is approx 70% of the largest segment of the triangle. On the other hand, the second triangle, Brown one, suggests there is plenty of upside to come, as the price is simply testing the upper trendline of the triangle.
The overall picture is of course bullish, no doubt in that, but the short - term outlook is a bit too mixed for my taste, hence staying away from the pair for now.
The overall picture is of course bullish, no doubt in that, but the short - term outlook is a bit too mixed for my taste, hence staying away from the pair for now.