GBP/USD: Sideways Movement Expected After Exhaustion

2024年8月30日

GBP/USD shows signs of exhaustion following a Last Engulfing Top pattern, confirmed by yesterday’s break below the pattern’s low. However, instead of a major reversal, the price appears to be setting up for sideways movement.

The recently surpassed resistance, now acting as support, is the key level to watch. The market seems to be consolidating around this area, suggesting indecision among traders.

I expect the price to range between this support and recent highs, indicating a pause rather than a sharp reversal. Traders should be cautious and wait for clearer signals before committing to a direction.

2024年9月4日

交易進行

Hold Short

2024年9月11日

交易結束：目標達成

Target reached