GBP/USD Technical Analysis

Bearish zigzag
Market is making lower lows
Clear downtrend
6 - point Downward continuation

Swing High
SwingLow
Pinbar
Swing low
Triple top
Entry

The price is bearish. The markets are going down as technical and fundamentals are aligned. BOE stance was dovish and this has absolutely been reflecting on the price. At this point you can see that markets are bearish and the strong opinion is that bearish continuation is developing atm. Targets are 1.3462 followed by 1.3380 and eventually 1.3275. However, as markets are always in the pullback retracement mode, protection of the profits is important when the market gets to important support levels. Selling the rallies is the best way to trade the cable now.