GBPUSD: The price confirmed the pattern's BREAKOUT

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🟢Forex Pair:
GBP/USD

⚪Technical Analysis:
The 1st of February, the price finally broke (as expected in my previous analysis) the rising wedge pattern, moving down until the support zone at about 1.36400.
It re-tested few times the same level creating every time a lower high.
It is currently on the same zone and the next price action around this area will be essential to understand the next market movement.

🔴Conclusion:
I'm confident to see an upcoming strong bearish movement after a possible trend correction.
I'll be waiting for the price breaking through the current support zone before planning my short position on this trade.

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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Kommentera:

If you would like to have a quick look on my previous analysis: