GBPUSD → Trend breakdown before NFP...

2. Aug.

GBPUSD breaks resistance after news from the UK. The interest rate was left at the same level of 5.0% (previously 5.25%). Against this background, traders intensified GBP sell-offs. US NFP is ahead.



Ahead is the NFP report - one of the important data that traders are waiting for. Favorable data can strengthen the fall of the currency pair, and unpredictable ones can form a stop and a possible range of 1.28 - 1.27.
Technically, a trend break has already been formed, a retest of the price to the resistance zone for confirmation is possible.
On D1 the price has returned to the side channel 1.287 - 1.25. The market opens the potential - the lower boundary of the flat.

Resistance levels: 1.2777, 0.5, 0.7 fibo.
Support levels: 1.27086

Fundamentally, everything is favorable to the decline of the currency pair, technically this situation is confirmed. If after the news the bears hold the mentioned resistance, the market may start forming a bearish trend.

Rate, share your opinion and questions, let's discuss what's going on with ★GBPUSD ;)

Regards R. Linda!