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British Pound / U.S. Dollar
Short
Updated

GBPUSD Bearish Continuation – Targeting 1.22100

GBPUSD is trading within a descending channel, indicating the continuation of the bearish trend. The price recently rejected the upper boundary of the channel, which aligns with a key resistance zone. This confirmed rejection suggests the potential for further downside, with the next target around the 1.22100 level.

The bearish scenario assumes that the price respects the descending channel and maintains its downward momentum. A clear move below minor support zones along the way could further confirm this bearish continuation. However, a break above the channel would invalidate this setup and indicate potential bullish pressure.

Let me know your thoughts or if you have an alternative perspective!
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DanieIM
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