GBPUSD weekly outlook 20jan

As per our previous weekly outlook we expected GBP to find resistance from descending trendline above price and support from horizontal zone , last week price moved between ranges and this week we can expect price to perform breakout ,

Our preferred direction is towards downside , and sell on break below horizontal support towards next s/r zone , in case price manages to break above descending trendline we would have to wait for next setup to emerge . Bearish setup will not be valid anymore..