GBP/USD Price Analysis: Bulls are lurking in demand area GBPUSD Technical Analysis
, it was explained that the M-formation was explained to be a topping pattern that had formed as the potential for the final stage of the prior bullish rally:The price was on the backside of that trendline where traders were anticipated to trade on the short side.The price has shot up to test resistance and while there are prospects of an onward continuation, the price can easily head lower as illustrated in the chart above.
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