The price action created an accumulation of candles on top of a horizontal support area that energized bulls and pushed the price significantly higher. However, one reason for that to happen is the BoE's decision to increase interest rates in December 2021.
I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of the downtrend channel.
GBPUSD
Happy New Year to everybody and may the Godmother of forex trading bring all a zillion of pips.
I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of the downtrend channel.
GBPUSD
Happy New Year to everybody and may the Godmother of forex trading bring all a zillion of pips.
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Today a bullish trendline (H4) was broken. But that doesn't necessarily mean that the bears are going to push it lower than today's low. We must monitor it closely.
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H&S on M5/M15. Aiming for 20 pips.
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Looks like the pattern was too small and so it failed.
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The bulls were seriously energized.
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