CHARTER_BOX

Cable Correction or continued trend towards zone

FX:GBPUSD   Livre sterling / Dollar américain
After price broke out of triangle chart pattern trend, bulls completely dominated for the past week and once price technically hit a relatively longer-term trend it reacted. Overall, USD has been very weak of late and further price action movement this week will be directly dictated by the greenback's strength against the pound, if it breaks below second trendline maybe a trend reversal and if bulls continue to dominate after correction, supply zone could be its next probable resistance.

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