GBP/USD
Strategy: Pending Short
Last week, we identified an Evening Star bearish reversal candlestick formation at the top of a rising channel that has been guiding the pair higher from December’s swing low. Prices have since moved lower to consolidate in a well-defined range above 1.6110, a level reinforced by the channel bottom (now at 1.6099). We will look for confirmation on a daily close below this juncture to enter short. A rebound higher sees initial resistance at 1.6246.
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