GBPUSD: Bearish Trend Continues
The GBPUSD pair successfully violated a key daily support level and closed below it, last week.
Upon retesting this level, the price rebounded and broke through a support line of an expanding rising wedge pattern.
This suggests a strong likelihood of a continuation of the bearish trend.
There is a high chance that the price will reach the 1.2106 level soon.
Upon retesting this level, the price rebounded and broke through a support line of an expanding rising wedge pattern.
This suggests a strong likelihood of a continuation of the bearish trend.
There is a high chance that the price will reach the 1.2106 level soon.
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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.