The price made a pullback from 1.29800 which will act as support level as price retract back.
This is a follow-up of my last post where i explained that GBP/USD will continue it's bearish momentum. The price is close to previous resistance level , i believe price will break through to test previous support level and make a reversal to the upside. But there's a slight probablity that it may reverse after touching previous resistance level, in that...
The pair broke the weak resistance level at 1.31041 and continuing it's bearish momentum while giving some easy scalping opportunities. The pair may touch previous resistance level at 1.29800 before a reversal keeping in mind the UK brexit exit on january 31st.
It's likely that GBPUSD will continue downtrend towards the support level, but look for bullish reversal afterwards.
The price has touched key resistance zone & i'm looking for a short trade on this simple triple top pattern, but do your homework before opening position.