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GBP/USD Breaks Support Trend Line and Challenges 1.3250

June 15, 2018 10:21

GBP/USD

4 hour

The GBP/USD failed to break above the resistance trend line (orange) and made a bearish reversal at this decision zone. Price broke below key support levels and is now challenging the 1.3250 round level and the previous bottom. A bearish break below 1.32 could see price fall towards the Fibonacci targets.

1 hour

The GBP/USD broke the resistance trend line (dotted red) but price action was unable to break above the previous top. The quick bearish reversal saw price break below two support trend lines (dotted blue), one steeper and one shallower. Any bullish retracement could move up to the moving averages, which could act a resistance point.

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