GBPUSD: Update! Spotting False Breakout (video analysis)
If you remember, last week we spotted a structure breakout on GBPUSD .
The price broke and closed below a daily key level, and for us, it was a strong bearish clue.
However, it turned out that the breakout was false.
After a violation of a support, the price was accumulating for quite a while
and managed to return back above the broken structure and also violate a falling parallel channel to the upside on 4H.
It looks like the market maker is playing with our expectations here.
Adjusting my analysis, now I am locally bullish biased and expect a local bullish continuation.