GBPUSD broke out of a minor range and headed south, essentially reversing the course of a short-term bullish trend.
Overall, the market is still seen trading within a range between 1.3960 and 1.3610 and it is most likely to continue heading down towards the bottom.
We can also see a symmetrical triangle forming so the rebound from the bottom may take place a little earlier at 1.3680 which could also be a buying opportunity.
This week, we will focus only selling, awaiting pullback towards at least 1.3770.
Overall, the market is still seen trading within a range between 1.3960 and 1.3610 and it is most likely to continue heading down towards the bottom.
We can also see a symmetrical triangle forming so the rebound from the bottom may take place a little earlier at 1.3680 which could also be a buying opportunity.
This week, we will focus only selling, awaiting pullback towards at least 1.3770.