Price broke out from a previous Up trendline and made a correction, now price has broken out of the Current Up Trendline as well as the 1.1068 Horizontal Support, a Retest back to the Horizontal Support and the broken Trendline should see price SELL to target.
Price has Rejected off from the third touch of the 73.93 Horizontal Support, if Price should get Up to the Down Trendline , then the third touch on that Trendline should be a good opportunity to SELL back to Support
A third touch on the Down Trendline was a good oppurtunity to Enter Sell position, nevertheless, the 1.3262 Horizontal Support is seen as a good zone to enter a Buy position back up to the Down trendline, but if price breaks to the downside from that Horizontal Support, then close the Buy position and wait for a Retest to Enter another Sell position to 1.3192
Remember from yesterday's analysis 1.2968 was a zone i mentioned to enter a SELL position which is in good profit, now price has formed and Up Trendline on the 4H Timeframe and has broken down from it.... A possible Retest at 1.2903 Horizontal Support should see price FALL TO TARGET, Which is another good zone to Enter more SELL positions.
In the previous GBPUSD post, price broke out from the Up Trendline, but now have seemed to make a correction of that Trendline, the Down Trendline line has been broken so as to that i expect price to get to the 1.2968 Horizontal Resistance, which could possibly be a Zone to enter a SELL position back the the Up Trendline, then we can look for a Bounce or Break off...
Price has recently bounced to the downside from the Weekly Down Trendline, therefore I expect a breakout from the 4hr Up Trendline as well as the 74.71 Horizontal Support, a Retest back to that Support should see price head to Target which is 74.02 , I also expect a breakout from the Daily Up Trendline . Keep in touch for more updates on this pair.
Price has broken out of the 1H Down Trendline as well as the 139.74 Horizontal Resistance, A Retest at that broken resistance as well as a Third touch on the 1H Up Trendline should see price head UP to the 4H Down Trendline.