GBPUSD – Broken Below MT Key Support Level – Will It Breakdown?

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Chris current open positions: EURUSD, GBPUSD, AUDJPY, EU50, SUI 20, INR.FR

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GBPUSD – Broken Below MT Key Support Level, Bearish While Below (4h chart)

Price Action Context

The potential breakdown we talked about in our weekend market commentary seems to be manifesting as bears yesterday successfully pushed price below the MT key support level.

gbpusd-forex-trade-setup-2ndskiesforex

Trending Analysis

MT bias changed to bearish and bears can look for potential trading opportunities on weak pullbacks into the broken support, now resistance.

Key Support & Resistance Zones

R: 1.2960 – 1.3015
S: 1.2660 – 1.2790

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