GBPUSD is testing the long-term falling trend line
It is testing the 1.3060 falling trend line and broken rising wedge again. For a downside reversal and a higher probability of short trade entries, we need to see a confirmed break below 1.2920. A break below this level would lead to an extension lower to 1.24 medium-term. The overall short-term is an uptrend but we need to see a confirmed break above 1.3060 for a complete upside continuation extension.
Note – We are inclined more to short trade entries in the case we have a break below 1.2920
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