GBP/USD: 1-hour
Looks like GBP/USD finally picked a direction! After consolidating inside a symmetrical triangle chart pattern on its 1-hour forex chart as I’ve showed y’all last week, the pair opted for the southbound route as it broke below the 1.5650 minor psychological support. This suggests that GBP/USD could be in for a 250-pip selloff, which is around the same height as the chart pattern. Stochastic has already reached the oversold area though, which suggests that pound bears are exhausted and that a pullback might take place. If so, price could retest the broken triangle support before resuming its drop.
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