Hello traders:
Lets take a detail look into GBPUSD's current price action.
We can see after the strong higher time frame impulse move, price develops into a larger, deeper consolidations.
Within the larger correction, a descending channel structure was also formed.
Good confluence here for a possible bullish reversals.
Now that price is at the bottom of the descending channel as well as HTF structure,
would be nice to look for a lower time frame bullish reversal price action.
Either inverse H and S, double bottoms, falling wedge or smaller descending structures are valid as a confirmation for the buy move to the top of the structure.
Thank you