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Short

GBP/USD to Continue Falling After Retesting Major Level

OANDA:GBPUSD   British Pound / U.S. Dollar
Based on technical analysis , GBPUSD has blown through previous major support and a major demand zone in the market. It's currently on a macro-downtrend, continuing with lower highs and lower lows. Top down analysis has shown that this pair is just in a small retrace at the moment, retesting the broken levels while still maintaining structure.

However, on the the smaller time frame uptrend, it has broken both its trend line and structure. Looking for a retest of the broken trend line and resistance level before it continues with a powerful push down to continue its macro-movement.

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