Way back I set some alerts for the Pound versus the Greenback for a possible breakdown in the forex pair. That alert got triggered this morning. Check out my previous post here from Jan 25.
The weekly candle 5 year chart shows the recent bounce close to the support line and the return to the current test.
The zoom in on the daily candle 1 year chart is more of the same. Down trending towards the support line.
We are close to a breakdown, but not yet. I will wait for a convincing monthly candle close below 1.48 before considering this trade. The implied measured move added to the breakdown line would be 1.26.
See you in early April gbpusd!