GBPUSD SHOWING RESPECT TO A MAJOR LEVEL

GBPUSD had a clear upward movement on last week breaking a descending trend line. Buyers come to the market very strongly and a beautiful bullish trend line is formed. But when the price came to the range as shown buyers lost their momentum. Some selling pressure indicates the area where sellers are looking for. Price again came to this key level to retest it but failed. So a consolidation was observed in last 32 hours. So it is good chance for seller. But they need to have patience for the perfect entry time. On the other hand if price successfully break this zone buyers should wait for a retest and go for buy again.