GBPUSD weekly outlook

Hello Traders....

Looking at Daily chart we can notice that :
1. Price has broken below 1st ascending trendline..
2. Current Uptrend is at risk till price remains below descending trendline ( blue)
3. Price is currently facing good support near 1.2950 zone ,
4. Price is still trading in uptrend above major ascending trendline ,

Observations :
We expect price to create false moves unless there is clear breakout below 1.29 level , from where we can expect price to retest ascending trendline, in other case we should see price moving higher and closing above blue descending trendline in order to continue LONG trades.

Trading Plan this week. :
Shorts are prefered however we need to wait for clear signal with daily breakouts or sell near descending trendline ...

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