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Brokenstructure

Trendline & Support broken on GBPUSD HourlyThe rising trendline and the horizontal support at the FX:GBPUSD has been broken. Price is trying to retrace, but is unable to cross back the upside. If price does cross above, it should face resistance again at the red line. Short can be initiated at CMP or at 1.2535 if price retraces again later, if you are late to see this. Target will be a little above the next support level: 1.2424 Stop little above the red resistance: 1.2593 Risk Reward of 58 pips:111 pips (1:1.92)
Short
by SaleemJunedLala
Updated

Select market data provided by ICE Data services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc.

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