FX.co ★ dusty24 | GBP/USD

Good afternoon fellow traders . Wishing everyone good luck in trading and a good mood. Trading instrument -

. Daily timeframe. As we can see, after a strong, so to speak, bullish impulse, the price went into a pullback; it was likely that the price could continue its short, which would be logical and will most likely continue, but while falling the price broke down through a strong zone that it had previously broken upward - 1.34461. And right now the situation has shown that this zone is still valid. Because in fact we have a price reaction to the breakout of this zone. But the pullback went down more than 50%, which most likely means that the price may not go long and will keep pushing further down to the zone from which the price previously went long - 1.32216.

H1 timeframe. The price is showing bullish weakness and will most likely continue its short further, as mentioned above, to the downside zone - 1.32216. Another thing is that the price may hit long one more time, since this bullish candle did not grow out of nowhere; there is a reason, meaning there is some aggressive buyer in the market, and where he will show himself, who knows. It also helps that the price is not falling too sharply in the short, because logically we have a global short, yet here the price is punching up into a long with some fire. Inconsistency.