The red trend lines
are the longer term and more powerful ones compared to the pink as they are intermediate meaning in the current structure. Price recently took the previous highs I expect some sort of retreat to the areas indicated. Although the larger time frame analysis says bullish
, I will look to sell and then put my position at break even and let it ride. At the same time if price goes to my areas I will always book some sort of profits and possibly enter a long position if we get a nice candles on the trend lines
highlighted, if that is the case look to take GBPUSD
to 1.31 areas.