From TradingView · · 30s
GBP/USD Bearish Momentum Builds
GBP/USD shows bearish pattern targeting 1.3018.
In brief
GBP/USD shows bearish pattern targeting 1.3018. GBP/USD price is consolidating below 1.3237 with potential next target at 1.3018 after breaching neckline resistance. Originally reported by TradingView.
GBP/USD Bearish Setup
GBP/USD shows potential bearish pattern on daily chart after failing to hold 1.3600-1.3650 resistance.
“Head and shoulders pattern”
Neckline Breached
Price has broken neckline resistance near 1.3237 with sellers gaining control.
“neckline area has been breached”
Next Target 1.3018
Short-term pullback to 1.3310-1.3350 resistance before potential bearish move to 1.3018.
“potential downside target 1.3018”
The key point
GBP/USD price is consolidating below 1.3237 with potential next target at 1.3018 after breaching neckline resistance.
