Probable scenario: - Probable GBPUSD breaks to the downside. - Descending triangle - Bearish divergence on stochastics (lower highs on stochastics vs higher lows on candles)
There are 2 main potential trade setups: 1) On break of the small uptrend line, targeting the bottom area of the triangle 2) On break of the descending triangle, targeting next support
Alternative scenario: - If GBPUSD manages to break to the upside, target next resistance.