GBPUSD: Intraday Bearish Setup

OANDA:GBPUSD   British Pound / U.S. Dollar
We observed two unusual breakouts on the 📉GBPUSD chart. The market had been trading in a tight range for about four days, forming both a symmetrical triangle and a horizontal range.

The recent breakout below the support of both the triangle and the range indicates a show of strength from the sellers.

This suggests that the price could potentially decrease to levels around 1.2620 or 1.2579.

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