GBP/USD (H4) chart shows, that pair has little space for further increases. Lately, we observed four trend line approaches. They are taking place more and more frequently and we may ask ourselves when price will break above. If it happens, that we will observe a broader correction.
However, the downward scenario is more likely – especially when we take current trend into account. Near the trend line we observe a local resistance zone, where price rebounded yesterday, forming a pin bar candle. It seems, that next approach in the vicinity of the trend line may end with stronger decreases.
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