Vladimir Ribakov analyzes GBP/USD trading within a bullish channel but spots a bearish divergence signaling a likely downside correction despite the recent rally.
And if we go to the chart, uh, quickly follow up on the previous week what we were following. And again, you can watch that in the YouTube videos. Of course, our plan was to get this, uh, rally here and basically hunt for the pound-dollar sales expecting the retrace on the downside. So what happens with the pound-dollar? It is moving in some sort of a bullish channel at the moment. We cannot deny the sequence of higher highs, higher lows, even though the most recent highs are countered by bearish divergence. Bearish divergence in that case means very likely we will have the corrective move, which we do.
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