FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is in a downtrend and price is bouncing between the SR levels (yellow lines)

We have two scenarios:

Bullish:
There is a resistance zone between 1.3345 - 1.3350 which also a minor high, and if price breaks this area and closes a bullish confirmation candle above it, we can expect a rise to 1.3388 and in the case of an upside breakout on this level, the next target would be 1.3445

Moreover, there is a positive divergence between the price lows and MACD in the Daily time frame:
Although price has made a lower low, MACD has made a higher low which tells us there is a high probability of an upside move.

Bearish:
On the other hand, since we are in a downtrend, we should wait for the last low at 1.3290 to be broken and if price closes a bearish confirmation candle below this level, the next target for GBPUSD is around 1.32

What is your side on GBPUSD?
Feel free to share your ideas in the comments.

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