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The British pound slowed down a bit, so investors probably have a chance to match orders for a longer move. Consolidations mean that someone selects large positions broken into many small ones in order not to have a bad overall price, so that one purchase will not cause a large change in the price in one candle. Retail investors will not experience the dilemma that the market causes when you want to make a big position, but you can’t just click and wait, as does profit taking. But that’s a topic on a separate page.
The images below show two scenarios for today. The blue circles indicate strategic places on which the further price movement will depend. In my opinion, we do not catch the first level violation, we wait for a correction, and then we make a decision to trade.
It is now possible both to reach the upper border of the triangle and to rebound, as well as another attempt to break through the support to which there were already 4 approaches. Due to several attempts to breach the level, I assume a further downward correction, but I do not make a decision until the chart clearly shows the direction.
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