Daily Forex Update: GBP/USD
The uptrend on the 60-minute chart of the GBP/USD has lost bullish momentum over the past 35 candles; subsequently, what was initially a correction to Channel Up support has now transitioned to a pattern reversal. The question now is: what is the likelihood for follow-through considering the weaker U.S. Dollar and Friday's U.K. Revised Gross Domestic Product (GDP) release?
- 27 August |
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