GBP/USD Technical Analysis

• GBP/USD is in downtrend
• The pattern is a bearish continuation sign
• Q L3 should be the target
• Bearish Zig-zag

D1 CHART GBP/USD

1. Descending Trendline
2. Bearish Order block
3. Pinbar Bearish
4. Q L3 and M L3 Pivot targets

The price is currently bearish and supported around 1,3600. We can see lots of selling  pressure from the M H3 resistance. Candlesticks are bearish and imply a possible breakout and continuation move down. The trend line acts as a resistance and it’s keeping bulls from advancing. If the break of the trend line happens the market will go higher. The move higher would disrupt the overall scenario of bearish GBP/USD. We should see a move down towards 1.3550 followed by 1.3500. The final target is 1.3340 but only as a part of a stronger swing and move down.