On the GBP/USD daily chart, a spring continues to compress in the triangle. The bulls’ attempt to go beyond its borders has failed. Now, it is the turn of bears.
If they manage to lower the quotes below the base of the 24th figure, there might be a recovery of the downtrend.
On the GBP/USD hourly chart, there is a formation of the descending triangle. A successful test of the support at 1.2385 will create prerequisites for the implementation of the Shark pattern. Its target 113% is located near the 1.22 mark. The nearest significant resistance lies at 1.254.
Recommendation: SELL 1,2385 SL 1,244 TP 1,22.
Origin: FX BAZOOKA
