GBPUSD has broken through the key support of 1.3600, will we see the market continue lower?

Watch the video to learn more…

Daily Chart

The GBPUSD price has finally broken through the key support of 1.3600 which we talked about in our previous video that can be found here. We looked at the price rejecting the key support numerous times which usually leads to the price breaking out especially when the price forms higher lows after each rejection. 

Now the price has completed the higher time frame head and shoulders pattern we could see the market continue to fall to the next area of support. The GBPUSD likes to work within whole numbers and the price could head down to the next zone of 1.3400. 

Trading Chart

The 4hr time frame breaking and making new lows could offer short opportunities. If the price rallies and retests the previous structure lows and 1.3600 level and forms bearish price action we can look for short opportunities.

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About The Author

Jonathan Kibbler

Jon Kibbler, our Senior Market Analyst, boasts over a decade of trading experience. He specializes in dissecting the intricacies of financial markets and sharing his expertise with precision. Jon’s insights have been featured at renowned events and platforms like Coindex, Forex Analytix, and Forex.com.

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