GBP/USD: bears can pull the pair down

GBP/USD: bears can pull the pair down


SELL 1.2705 SL 1.276 TP1 1.2605 1.2505 TP3 1.2405,

BUY 1.2925 SL 1.287 TP1 1.3025 TP2 1.3065 TP3 1.3315

On the daily chart of GBP/USD, bears managed to pull the pair to the lower border of the triangle. If they break the support at 1.27, the pair will continue to move towards the 161.8% target of AB=CD.


On H1, breaking of the support at 1.2705 will move the pair downwards to the line of the “Three Indians” pattern and 161.8% target of AB=CD. On the other hand, if the resistance at 1.2925 is broken, the “Broadening wedge” pattern will be activated.




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