GBP/USD Long-Term Trend: Bearish
Key Resistance Levels: 1.3808, 1.4000, 1.4235
Key Support Levels: 1.3670, 1.3590, 1.3450
The price managed to break the uptrend (white line) to the downside. Now, it is posting lower lows and highs where expect this to continue after the end of the correction.
GBP/USD Medium-Term Trend: Bearish
On the 4-hr time frame, the price found sellers around the 50% Fibonacci retracement level and formed a head and shoulders around this level indicating that the correction is end. A higher correction might be seen to the neckline of this pattern and then move downward again toward the 1.3670 USD Level.
Sell Limit Order @ 1.3753
TP 1 @ 1.3672
TP 2 @ 1.3570
Stop Loss @ 1.3793
Trade Safely 🙂