GBP/USD Price Analysis: Bears prowl and eye a break below of 1.2050 again GBPUSD Technical Analysis
A break below 1.2050 again will likely seal the deal for the bears.
From a technical perspective, a multi-timeframe analysis arrives at a bearish bias while GBP/USD remains pressured on the front side of the dominant bear trend. The break of structure, BoS, on the monthly chart is bearish for the immediate future as the bulls struggle to maintain form, on the correction back into the micro bear trend. The daily chart sees the price trapped between structure and resistance, leaning with a bearish bias again. The bulls are testing the 1.
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