GBPUSD → False breakdown leads to correction before retest

💡Ideas For GBPUSD 🇬🇧🇺🇸

📈 GBPUSD → False breakdown leads to correction before retest

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GBPUSD reaches the previously mentioned target of 1.2726, a false breakdown of the liquidity area is formed and apparently a correction will be formed before the retest

The #DXY opens with a small counter-trend correction from the opening, which has a corresponding effect on the Forex market. In all probability, the index will test the previously broken resistance: 102.77, 103.06. The outlook is bearish. The pound sterlnigov will form a small correction after a false breakdown of resistance. The nearest support that can be tested before is in the area of 1.2640 - 1.2620

Today the market expects the publication of the US GDP, in November the index rose to 4.9% against 2.1 in the previous period. Analysts expect that the index may remain unchanged at 4.9. This is the broadest indicator of economic activity and the main indicator of the state of the economy, so this fundamental factor will have a medium and long-term impact on the market

Support levels: 1.2640, 1.2620, 1.2560

Resistance levels: 1.2726

I expect correction after a false breakdown. Retest of the support may form another bullish potential before further growth

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#GBPUSD 🇬🇧/🇺🇸

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