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GBPUSD Looks Ready for Sub 1.3750 Prices

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Last weekend, we looked at a potential breakdown from the GBPUSD.

I’ve mentioned the idea that the late-February surge above channel resistance looked to be a false break.

As you may know, a false break to one side of a pattern usually triggers an extended move in the opposite direction.

For GBPUSD, that implies a move lower.

That said, sellers need to get through the 1.3800 area to expose lower levels.

I talked about this on Sunday.

A daily close below 1.3750 should confirm the breakdown.

It would also open the door to 1.3580 and perhaps 1.3450.

Below 1.3450, we have the December 2020 lows near 1.3150.

Remember that GBPUSD sellers need to secure a daily close below 1.3750 to confirm the breakdown.

Until that time, the market is above key support.

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GBPUSD daily time frame

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4 comments
Justin Bennett says

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ali says

thanks for the update justin.

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ALADEYANTAN LAWRENCE (EYITAYO) says

I NEED THE video clips of trading with clear sound

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Zaki Ghazalli says

Hi Justin, I am a Lifetime member to dailypriceaction. I do receive your daily market emails. Is getting into Blueberry Market a greater advantage? Please reply to my email. Thanks.
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