#GBPUSD - POSSIBLE PULLBACK AND CONTINUATION PATTERN

WEEKLY TIMEFRAME - Price has broken above the strong consolidation "C" once before. After price broke through consolidation level "C", price rejected off consolidation level "A", then returned to consolidation level "C". Price has now formed a bullish engulfing candle over consolidation level "C" and the weekly 200 EMA.


DAILY TIMEFRAME - Price is currently creating a new higher high, breaking through price level "D". Price has a high chance of rejecting consolidation level "B", returning to price level "C", then continuing higher as seen by trendline "F".


ENTRY - Entry into this trade will be when price returns to consolidation zone "C", then shows strong price action towards the upside.