Hello traders!
I apologize for the late posting here on GBPUSD. As you can see price has already come down and touched s1 just about to the pip. Clearly dip buyers stepped in at s1. Long-term directional bias is still certainly to the upside so it is possible to see these dip buyers prevail. If that is to be the case, a sustained break above r2 is required to confirm higher pricing and a continuation of the uptrend.
Until then further consolidation is expected and another attempt at s1 may result in a break then putting sights down to s2.
Enjoy and remember to follow!
I apologize for the late posting here on GBPUSD. As you can see price has already come down and touched s1 just about to the pip. Clearly dip buyers stepped in at s1. Long-term directional bias is still certainly to the upside so it is possible to see these dip buyers prevail. If that is to be the case, a sustained break above r2 is required to confirm higher pricing and a continuation of the uptrend.
Until then further consolidation is expected and another attempt at s1 may result in a break then putting sights down to s2.
Enjoy and remember to follow!
