FX.co ★ bridget.franecki | TST as the Foundation for Medium-term Trading

Here, the probability of the gbp/usd decline stopping is starting to show. The decline itself doesn't really pick up momentum, although if we look from the highs, it seems like we are making progress. The level for today, along with the price action, is trying to reverse the price. So, today's scenario reads like this: the channel has broken through, the mandatory zone is at balance, and at the current price level, all of this reduces the likelihood of further decline. The mandatory zone itself, in such a position where it has shrunk and the price is already entangled in it, carries little value. Therefore, I expect a decline like this in red, and everything will depend on where we stop and how we end the week. But there is a high probability that the price will move towards this unwanted scenario in the area of 1.3255. Let's see.