GBPUSD: Update! Spotting False Breakout 🇬🇧🇺🇸

If you remember, last week we spotted a structure breakout on GBPUSD.
The price broke and closed below a daily key level, and for us, it was a strong bearish clue.
However, it turned out that the breakout was false.

After a violation of a support, the price was accumulating for quite a while
and managed to return back above the broken structure and also violate a falling parallel channel to the upside on 4H.

It looks like the market maker is playing with our expectations here.

Adjusting my analysis, now I am locally bullish biased and expect a local bullish continuation.

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Commentaire:

Check my new analysis on EURUSD, USDJPY, GOLD (XAUUSD), EURAUD: