GBP/USD has broken its upward trend line!

From the point of view of technical analysis, GBP/USD has broken its upward trend line in the one-hour timeframe, and now the parity ratio is below the simple moving average of 55.

Further, as long as the rate is below the 1.13165 resistance area, sellers have a high advantage to push the parity ratio below the following supports, respectively:

1- Corrective Fibo support of 38.2% AB wave.

2- 50% corrective Fibo support of the AB wave, which exactly overlaps with the simple moving of 200.

3- Corrective Fibo support of 61.8% of the AB wave.