GBP/USD has started falling since September. It's taking potential reversal from descending resistance trendline. Currently, this pair is into the descending triangle pattern. That's a consolidation area. Hence, we may see continue the sideways movement here.
Breakdown of descending triangle or hurdle indicating sell confirmation. That means GBPUSD will pushback to 1.2726 & 1.2676 levels.
And upper breakout will hard-hit on the current trend. It will fly till the 1.3020 to 1.3160 target prices.
The day traders can keep buying/selling between the consolidation area but get ready for the above targets after a breakout of the descending triangle pattern.
Nice Descending Resistance Trendline, it matches very well one of the Gann angles. But the question is will it go up or down? Since future is predetermined there is only one right answer :) You may find an answer on monthly chart of this financial instrument as same pattern is repeating now on the daily chart.
VincePrince
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Great objectives especially when the demand sets in, thanks for sharing.