GBP/USD Potential Downward Movement

GBP/USD Long-Term Trend: Bearish

Key Resistance Levels: 1.32275, 1.32783, 1.33198

Key Support Levels: 1.31551, 1.31185, 1.30659

Daily Chart:

The price on the higher time frame has seen a reaction at a resistance level of 1.32275 and has started a bearish momentum. The pair has broken a support level which suggests further trend continuation.

GBP/USD Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It faced resistance at a key level of 1.32275 and reversed the direction. As of now the pair has broken and retested a trendline before continuing the momentum.

Signal Idea:

Sell Limit Order @ 1.31978

TP @ 1.31585

Stop Loss @ 1.32370

Trade Safely 🙂