GBPUSD Sideways Consolidation with Potential Upside Breakout

Jun 18

Timeframe: Weekly and 4-Hourly Charts
Predicted Move: Potential Upside Breakout

Analysis:
On the weekly chart, GBPUSD is currently in a sideways consolidation phase. Although the pair is near the top of this range, there seems to be a tendency for the market to break towards the upside. This observation is based on my 18 years of trading experience and intuition.

Key Points:
- Sideways Consolidation: GBPUSD is trading within a defined range on the weekly chart.

- Near Top of Range: Price is approaching the upper boundary of the consolidation.

- Potential Upside Breakout: Market tendencies suggest a possible break to the upside.

- Trading Experience: This analysis is supported by my 18 years of trading experience and gut feeling.

Strategy:
- Retest and Buying Opportunity: If you share my perspective, I'm looking for a retest within the buy zone on the 4-hourly chart at 1.2666 for a buying opportunity.

- Understanding the Buy Zone: It may seem like the buy zone has been broken, but with professional chart reading, it's evident it hasn't.

Note: This analysis is based on my personal trading experience and should not be followed blindly. Always conduct your own research and analysis before making any trading decisions.

Stay cautious and trade wisely!