GBPUSD ! False breakdown of range resistance. Falling down
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GBPUSD is in a downtrend. The price movement is formed by descending steps, which is a strong price movement pattern. The resistance levels work out very confidently. The price is trading in a local range between 1.2595 and 1.24774. After the rollback of resistance, a false breakout was made and the price is consolidating under the resistance zone
I expect the price to fall from the resistance zone, after fixing the price under the zone. Short-term target - support 1.2474
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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.