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

Next I’m looking at gbp/usd , and here the situation is trying to develop in a completely different, not-so-good direction. This is why we need levels: after the price dropped yesterday, today it’s showing a channel extension. It’s good that we opened the day at the lower boundary of the channel, but it’s not so good that this happened on a price decline, as we might now go back up. But the fact that the mandatory zone hasn’t disappeared and is still above the price should be noted as a positive, and for today I’m counting on this kind of move down according to the red scenario, but around 1.3450 we need to be careful not to break above the mandatory zone.