GBPUSD: Two Scenarios For Next Week!

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By VasilyTrader




Its the update for my previous post on GBP/USD.


On Friday we have not seen any strong movement and for now, it is clear that the pair is stuck in consolidation:
from Thursday the pair is trading within 1.252 - 1.242 and market participants are waiting for some trigger.

Next week pay attention to a breakout of the range.

In case of a bullish breakout, the market will most likely continue a bullish rally following the current bullish trend .
we will aim at the retest of the current high - 1.263

In case of a bearish breakout, the market may go lower and we will aim at 1.232
Let the market decide its direction and then just follow!

I am still long-biased here based on the previous price action. but who knows...

Good luck and have a great weekend!

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