FX.co ★ dusty24 | GBP/USD

GBPUSDHello traders! The readings of the linear regression channel indicator favor the seller, who is strong and active as indicated by the southward slope. I am considering selling from the upper edge of the channel at 1.35138, near which there is a cluster of seller positions. The movement will be towards the lower edge of the channel at the level of 1.34862. Once this level is reached, buyers may show up wanting to return to the selling zone. To move upwards with the intention of surpassing it and reclaiming the chance to recover in the H1 trend. If the price consolidates above the level of 1.35138, the possibility of looking for sales will be canceled, and the situation will need to be reassessed on the M15. Resumption of sales will occur upon a return below the 1.35138 level. If the channel continues to point downwards.

In contrast to the M15 chart, the hourly linear regression channel shows an upward movement, emphasizing buyer activity. The buyer weakens in front of the seller, managing to break through and stay below the level of 1.34989. This indicates a strong bearish interest in the market. This interest may develop with a specific goal for the seller to turn the H1 channel downwards. This would mark the end of the bullish trend. Subsequently, the seller's dominance will be expressed by a downward channel, indicating a bearish trend. The strong bear will aim to reach the level of 1.33253 to achieve its goal. If the conditions on the M15 are met, when the market is above the levels of 1.35138 and 1.34989, the bulls will restore their trend movement.