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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.



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