Lingrid

GBPUSD BREAKOUT and FALL in two stages

Kort
FX:GBPUSD   Brittiska pund/Amerikanska dollar
After an impulse from the strong support line in early November, the price managed to rise to the resistance level, breaking through another strong line, as well as the level of 1.330.
During the breakout, the price reached a local maximum in the resistance zone - the last time it touched this zone was in August 2020.


As you can see, after the breakdown of this zone, the price collapsed very much. And I expect the same development of events this time.

I think that the resistance zone will have a strong impact on the price, giving it enough push to consistently break through first the support level 1.330, and then the 1.325 line.

At this point, I expect my intermediate goal.
However, I also expect the price to continue to fall further and eventually come to the next support line.
Thus, the final target is the support line 1.306.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻

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