GBPUSD Trendline Breakdown Deeper Pullback from Key Resistance
This 2-hour GBP/USD chart highlights a strong bullish structure built on a rising trendline, with price respecting higher lows throughout early December. Multiple ascending and corrective channels show controlled upside momentum.
Price recently tested a major resistance zone near 1.3450, failed to hold above it, and then broke down below the rising trendline, marked by the highlighted breakdown area. This loss of structure suggests a trend exhaustion / corrective phase rather than immediate continuation.
Key downside levels are clearly mapped:
1.3294 as the first support / breakdown confirmation level
1.3194 as a deeper downside target if bearish momentum accelerates
The chart effectively illustrates a transition from trend continuation to corrective risk, with sellers gaining short-term control after rejection at resistance.
Price recently tested a major resistance zone near 1.3450, failed to hold above it, and then broke down below the rising trendline, marked by the highlighted breakdown area. This loss of structure suggests a trend exhaustion / corrective phase rather than immediate continuation.
Key downside levels are clearly mapped:
1.3294 as the first support / breakdown confirmation level
1.3194 as a deeper downside target if bearish momentum accelerates
The chart effectively illustrates a transition from trend continuation to corrective risk, with sellers gaining short-term control after rejection at resistance.
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telegram channel link
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join to get daily basis 2-3 free signal for educational purpose
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get information about Gold, BTC and forex market
t.me/+OO7phZHO6g1mN2Y0
t.me/+OO7phZHO6g1mN2Y0
join to get daily basis 2-3 free signal for educational purpose
t.me/+OO7phZHO6g1mN2Y0
get information about Gold, BTC and forex market
t.me/+OO7phZHO6g1mN2Y0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.