GBP/USD Technical Analysis

• GBP/USD sells on rallies
• The price needs to stay below the trend line
• Confluence at 61.8 fib
• M H3 camarilla pivot has been reached

H4 CHART GBP/USD

1. Swing high
2. Swing low
3. The Entry Zone
4. First TP
5. Breakout target/Second TP

The price is undergoing a correction. We can spot a trend line which is clearly bearish. However, the price needs to stay below the trend line if it wants to remain bearish. There is also a confluence at 61.8. We can see M H3 resistance and a possible move down. W L3 is support and 1.3411 is the first target if the market starts a rejection. Breakout should happen below 1.3410 towards 1.3248 but I think this is very hard to happen. If the price manages to stay below the entry zone, short term bears should be safe.