The GBP/USD bearish breakout is seeing a bullish retracement at the moment but the downtrend could continue if the price manages to break below 1.32. In that case the next target could be at 1.30.
The GBP/USD seems to be building a wave 4 retracement. The price has respected and turned at the 38.2% Fibonacci retracement levels, which could indicate the start of a wave 5.
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.