GBPUSD broke structure on the daily, however, we have had no retracement since the bearish impulse began. I started identifying this expanding diagonal since Monday, and price has been consistent with the expansion.
Mid-week trading on Wednesday usually sees a reversal of momentum for the rest of the week. Instead, I can see Price has completed the reversal pattern.
For as long as this setup holds, my current expectations for the rest of the week is GBPUSD bullish. I would be targeting 1.23630 for about 300pips. As always trade cautiously.
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