GBPUSD with upside potential

GBPUSD with upside potential

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Orlando Gutierrez

Updated: 13 October 2022

The Pound-Dollar has rejected a key level (1.3440) and started to rally after breaking out of a reversal pattern. We are still inside a short term bearish structure (orange) and sellers are in control right now below the next key level (1.3525).

If buyers break with this key level the immediate bullish structure would be validated and buys would be in play.

The no trade zone below this level and above the POC is where this battle is taking place. Wait for a definitive move to get in.

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