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GBPUSD : Short Trade , 4h

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Hello traders, we want to check the GBPUSD chart. The price has broken the upward trend line, but we still cannot say that the trend is downward. Currently, we have two scenarios in front of us. The first case is that the price cannot break the specified support level and the price stays in a suffering zone for a while. And the second case is that the price can break this level and a downward trend is formed in the market. Considering the strength of the downward movement and the fact that there is no sign of weakness in the downward movement in the lower time frame, it seems that the second scenario is more likely and the price will enter a downward trend after breaking the support level. If the price trend is downward, we expect the price to fall to around 1.24700. Good luck.

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After a correction, the price was able to break the indicated support level as per our forecast. We expect the price to continue its downward trend.