GBP/USD: Distribution Signals a Drop to 1.25
GBP/USD appears to be in a distribution phase, struggling to break through resistance around 1.2620. The price has formed multiple rejection points at this level, indicating weakening bullish momentum.
The recent lower high, combined with a potential break of the ascending trendline, suggests sellers are regaining control. If price breaches the key support zone, a move towards the 1.2500 region becomes increasingly likely.
With a bearish harmonic pattern and liquidity grab indications, GBP/USD could see further downside as selling pressure intensifies.
The recent lower high, combined with a potential break of the ascending trendline, suggests sellers are regaining control. If price breaches the key support zone, a move towards the 1.2500 region becomes increasingly likely.
With a bearish harmonic pattern and liquidity grab indications, GBP/USD could see further downside as selling pressure intensifies.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.