Lingrid | GBPUSD psychological RESISTANCE zone. Short FX:GBPUSD has reached a crucial psychological resistance zone, only to fall back from it. We've seen an impulsive movement from this level, where it's also encountered a significant resistance area. A long-tailed bar followed by a large bearish candle suggests a potential exhaustion of the upward momentum on the daily timeframe. As the market pulls back towards this resistance, I am waiting for potential fake breakout. If the trendline is breached, we may be looking at a classic head and shoulders pattern, which is a classic reversal signal. In this scenario, I expect the price to fake out above the resistance level and then roll back towards the support level and the channel border. My goal is the support level at 1.26050
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