Price Action Analysis of GBP/USD
Current Trend: The overall trend is a downtrend, as indicated by the descending trendline visible on the chart.
The white arrow on the chart shows a potential rebound path. If the price can break above the trendline and hold, a rebound rally may occur. The price needs to break and hold above the descending trendline, which is a key confirmation signal. If the breakout is successful and the pullback does not fall below the trendline, further upward movement is likely.
The white arrow on the chart shows a potential rebound path. If the price can break above the trendline and hold, a rebound rally may occur. The price needs to break and hold above the descending trendline, which is a key confirmation signal. If the breakout is successful and the pullback does not fall below the trendline, further upward movement is likely.
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