GBP/USD trend line breaks lower towards D L5 target
|GBP/USD technical analysis
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GBP/USD is bearish.
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Close below D L3 is bearish.
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W L3 is support.
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D L5 is the first target.
Daily chart GBP/USD
1. Swing low.
2. Swing high.
3. First target.
4. Final target.
The GBP/USD is bearish. After the US holiday - Martin Luther King Day we should expect bigger volatility. The trend is to the downside and we should see the move down. A close below the D L4 1.3618 should move the price lower to D L5 camarilla 1.3594. This is the intraday target. However, on an extended move down below the D L5, we should see the W L4 hit which is 1.3553. A move up is not expected unless the trend line breaks to the upside. The pound imminent target is the D L5.
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