Today, at the beginning of the European session, the British Pound moved up strongly, in line with our expectations. At the same time, after the late investors began to buy the currency pair in a rush of excitement, which in the afternoon the forums began to appear more and more posts asking when it will go further up because they have a long position. A few hours ago, I saw more posts by the same people who wrote that they closed a long position and opened a short sale, while pasting the analysis with the currency range.
After seeing the chart, I noticed a flag formation forming. Personally, I am waiting for a correction to make a deal, but I’m afraid that the next opportunity will be much higher.
The plot from the H1 interval and the range from the flag coincides with the last range of the upward movement. Shown in two pictures to make it easier to see both ranges. Breaking the pattern may give the first signal about the direction of the price.